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| þ |   | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED MARCH 31, 2009                              |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                       |
|   |   | OR                                                                                                                                                         |
|   |   |                                                                                                                                                       |
| ¨ |   | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______________ TO _______________ |

| Nevada                                                        | 75-0778259                       |
|---------------------------------------------------------------|----------------------------------|
| (State or other jurisdictionof incorporation or organization) | (IRS EmployerIdentification No.) |
|                                                          |
|                                                          |                             |
| 2728 N. Harwood Street, Dallas, Texas                         | 75201                            |
| (Address of principal executive offices)                      | (Zip code)                       |

| Title of each  class                                    | Name of each exchange on which registered |
|-------------------------------------------------------------------|-------------------------------------------|
| Common Stock ($0.25 par value)                                    | New York Stock Exchange                   |
| Rights to Purchase Junior Participating Preferred Stock, Series D | New York Stock Exchange                   |

| Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.     Yes þ     No ¨                                                                                                                                                                                                                                                                    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.     Yes ¨     No þ                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirementsfor the past 90 days.     Yes þ     No ¨                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrantwas required to submit and post such files).     Yes ¨     No ¨ |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulations S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendments to this Form 10-K.     þ                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company in Rule 12b-2 of the Exchange Act.                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Large accelerated filer þ     Accelerated Filer ¨     Non-accelerated Filer ¨    Small reporting company ¨                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes ¨     No þ                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| On September 30, 2008, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was $2.01 billion based upon the last sale price reported for such date on the New York Stock Exchange.  As of July 10, 2009, 125,319,612 shares of the registrant’s common stock were outstanding.                                                                                                                     |

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TABLE OF CONTENTS

| EXPLANATORY NOTE |  2                                                                                        |
|------------------|------------------------------------------------------------------------------------------------|
|             |                                                                                           |   |
| PART III         |                                                                                           |   3 |
| ITEM 10.         | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE                                         |   3  |
| ITEM 11.         | EXECUTIVE COMPENSATION                                                                         |   9 |
| ITEM 12.         | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS | 50 |
| ITEM 13.         | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE                      |   52 |
| ITEM 14.         | PRINCIPAL ACCOUNTANT FEES AND SERVICES                                                         |   55 |
|             |                                                                                           |   |
| PART IV          |                                                                                           |   56 |
| ITEM 15.         | EXHIBITS AND FINANCIAL STATEMENT SCHEDULES                                                     |   56 |
|             |                                                                                           |   |
| SIGNATURES       |                                                                                           |   63 |

EXPLANATORY NOTE 

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Table of Contents

PART III 

ITEM 10.    DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Board of Directors 

| Name and Age                                                   |   | Director Since |   | Principal Occupation and Directorships                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|----------------------------------------------------------------|--------|----------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                           |
| Term Expiring at the 2009 Annual Meeting of Stockholders  |
| Ursula O. FairbairnAge 66                                 |   | July 2005      |   | Ms. Fairbairn is president and chief executive officer of Fairbairn Group LLC (a human resources and executive management consulting company), a position she has held since April 2005.  She served as executive vice president, human resources and quality of American Express Company (a diversified global travel and financial servicescompany), a position she held from December 1996 until her retirement in April 2005.  Ms. Fairbairn also serves as a director of Air Products and Chemicals, Inc., Sunoco, Inc., and V.F. Corporation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                           |   |           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Thomas J. FalkAge 51                                           |   | May 2003  |   | Mr. Falk is chairman of the board and chief executive officer of Kimberly-Clark Corporation, having been elected chairman in 2003 and chief executive officer in 2002.  Mr. Falk served as president of Kimberly-Clark from 1999 until his election as chairman in 2003, and served as chief operating officer of that company from 1999until his election as chief executive officer in 2002.  Mr. Falk previously had been elected group president-global tissue, pulp and paper of Kimberly-Clark in 1998, where he was responsible for Kimberly-Clark’s global tissue businesses.  Earlier in his career, Mr. Falk had responsibility for Kimberly-Clark’s North American infant care, child care, and wet wipes businesses.  Mr. Falk joined Kimberly-Clark in 1983 and has held other senior management positionsin that company.  Mr. Falk also serves on the boards of directors of the University of Wisconsin Foundation and the Grocery Manufacturers of America, and as a governor of the Boys & Girls Clubs of America.   |
|                                                           |   |           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

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| Name and Age |   | Director Since |   | Principal Occupation and Directorships |
|--------------|--------|----------------|--------|----------------------------------------|

|                                                           |   |            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------------------------------------------------------|--------|-----------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Matthew K. RoseAge 50                                     |   | July 2006       |   | Mr. Rose is chairman, president and chief executive officer of Burlington Northern Santa Fe Corporation, positions he has held since March 2002.  Previously, Mr. Rose held the following positions at Burlington Northern or its predecessors: president and chief executive officer (December 2000 to March 2002); president andchief operating officer (June 1999 to December 2000); and senior vice president and chief operations officer (August 1997 to June 1999).  Mr. Rose also serves as a director of AMR Corporation.                                                                                                                                                                                                                                                                 |
|                                                           |   |            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Thomas M. SchoeweAge 56                                   |   | October 2001    |   | Mr. Schoewe is the executive vice president and chief financial officer of Wal-Mart Stores, Inc., where he has served since January 2000.  Prior to joining Wal-Mart Stores, Mr. Schoewe spent 14 years at Black and Decker Corp., most recently as senior vice president and chief financial officer.  Previously, he hada 12-year career with Beatrice Companies, where he was chief financial officer and controller of Beatrice Consumer Durables, Inc.  A native of the Chicago area, Mr. Schoewe earned a BBA degree in finance from Loyola University of Chicago.  He is a member of Financial Executives International and a national trustee of The First Tee.                                                                                                   |
|                                                           |   |            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Term Expiring at the 2010 Annual Meeting of Stockholders  |
| Clint W. Murchison, IIIAge 62                             |   | February 1979   |   | Mr. Murchison is chairman of Tecon Corporation, which is engaged in private real estate development and other investment activities, and is also chairman of Bankers Trust Company of Texas, a private trust company.  He has held these positions for more than five years.  He is chairman of the investment committee of RPMMetropolitan Fund, which invests in private partnerships across a broad range of asset classes.  Mr. Murchison is a regional trustee of the Boys & Girls Clubs of America.                                                                                                                                                                                                                                                                            |
|                                                           |   |            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Frederic M. PosesAge 66                                   |   | July 2001  |   | Mr. Poses was chairman and chief executive officer of Trane Inc. (formerly American Standard Companies Inc.) from January 2000, and was a director from October 1999, until the acquisition of Trane Inc. by Ingersoll-Rand Company Limited in June 2008.  Before that time, beginning in 1998, he was president and chief operating officerof Allied Signal, Inc., where he had spent his entire 30-year business career, starting as a financial analyst in 1969 and serving in various other capacities, including president of the Engineered Materials business beginning in 1988.  He was a director of Allied Signal, Inc. from 1997 until October 1999.  Mr. Poses also serves as a director of Raytheon Company and the non-executive chairman of the board of Tyco Electronics Ltd. |
|                                                           |   |            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| David W. QuinnAge 67                                           |   | July 1989       |   | Mr. Quinn retired as vice chairman of our board and an employee of Centex on March 31, 2002.  Mr. Quinn was elected vice chairman of the board in May 1996 and was our chief financial officer from February 1987 until June 1997 and from October 1997 through May 2000.  Mr. Quinn served as executive vice presidentof Centex from February 1987 until his election as vice chairman of the board.  Mr. Quinn is also a director of Eagle Materials Inc.                                                                                                                                                                                                                                                                                                                              |
|                                                           |   |            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Term Expiring at the 2011 Annual Meeting of Stockholders  |
| Barbara T. AlexanderAge 60                                |   | July 1999  |   | From October 1999 until January 2004, Ms. Alexander served as a senior advisor of UBS Securities and its predecessors.  Before that time, beginning in January 1992, she served as a managing director of UBS, where she managed the Construction and Furnishings Group (North America) in the corporate finance department.  Priorto joining UBS, she was a managing director in the corporate finance department of Salomon Brothers.  Ms. Alexander is an executive fellow and past chairman of the board of the Joint Center for Housing Studies at Harvard University and is currently a member of that board’s executive committee.  She also serves as a director of Federal Home Loan Mortgage Corporation (Freddie Mac) and QUALCOMM Incorporated.                   |
|                                                           |   |            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

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| Name and Age |   | Director Since |   | Principal Occupation and Directorships |
|--------------|--------|----------------|--------|----------------------------------------|

|                         |   |      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|------------------------------|--------|-----------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Timothy R. EllerAge 60  |   | July 2002 |   | Mr. Eller joined Centex Homes in 1973 and held various operational homebuilding division positions, including vice president and president of the Minnesota division.  He was named an executive vice president of Centex Real Estate Corporation (“CREC”), the managing partner of Centex Homes, in 1985 and was electedCREC’s president and chief operating officer in January 1990.  In July 1991, he was named CREC’s president and chief executive officer, and in April 1998, he became CREC’s chairman, serving through April 2003, and beginning again in April 2006.  In August 1998, Mr. Eller also was named executive vice president of Centex Corporation, serving until April 2002 when he became our president and chief operating officer.  He assumed the additional roles of our chairmanand chief executive officer in April 2004.                                              |
|                         |   |      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| James J. PostlAge 63         |   | July 2004 |   | Mr. Postl retired as president and CEO of Pennzoil-Quaker State Company following its acquisition by Shell Products U.S. in October 2002.  He joined Pennzoil in October 1998, just prior to the formation of Pennzoil-Quaker State Company, when he was named president and COO and elected to the board of directors of the new company.  InMay 2000, he became president and CEO.  Prior to joining Pennzoil, he was president of Nabisco Biscuit Company from 1996 and was president and CEO of Nabisco International from 1994 to 1996.  Prior to joining Nabisco, he held a variety of management positions with PepsiCo over a 19-year period.  Mr. Postl serves as a director of Cooper Industries, Ltd., American Balanced Fund, Inc., The Income Fund of America, Inc. and The International Growth and Income Fund, Inc.  Healso serves on the boards of several non-profit and academic institutions. |

| ● | require stockholder proponents and their affiliates to disclose, in addition to direct ownership interests, all other ownership interests including derivatives, hedged and short positions and other economic and voting interests; |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | require director-nominees to represent that they do not, and will not, have any undisclosed voting commitments or other arrangements with respect to their actions as a director; |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | require directors nominated by stockholders to complete our standard director and officer questionnaire; |
|---------|----------------------------------------------------------------------------------------------------------|

| ● | require stockholders nominating directors to disclose any material relationships between the stockholder proponents and their affiliates, on the one hand, and the director nominees and their affiliates, on the other hand; |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | clarify that director nominations by stockholders require a separate advance notice and cannot be satisfied by any notice of meeting sent by us; and |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | clarify that the advance notice provisions in Article II, Sections 12 and 13, are the exclusive means for a stockholder to make a director nomination or submit other business before an annual meeting of stockholders (other than matters properly brought under Rule 14a-8 of the federal proxy rules, which contains its own procedural requirements). |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Board Committee Membership and Meeting Information 

| Name                                                                                                                                                                                                                                                                                                                                                |   | Audit   |   | Compensation |   | Governance |   | Executive |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|--------|--------------|--------|------------|--------|-----------|
| Barbara T. Alexander  Ö  À                                                                                                                                                                                                                                                                                            |   |    |   |         |   | ›    |   |      |
| Timothy R. Eller                                                                                                                                                                                                                                                                                                                                    |   |    |   |         |   |       |   | ›   |
| Ursula O. Fairbairn  Ö                                                                                                                                                                                                                                                                                                               |   |    |   | ›      |   |       |   |      |
| Thomas J. Falk ®  Ö  À                                                                                                                                                                                                                                                                                           |   |    |   | ˜       |   |       |   | ˜    |
| Clint W. Murchison, III  Ö                                                                                                                                                                                                                                                                                                           |   | ˜  |   |         |   |       |   |      |
| Frederic M. Poses  Ö  À                                                                                                                                                                                                                                                                                               |   |    |   |         |   | ˜     |   |      |
| James J. Postl  Ö  À                                                                                                                                                                                                                                                                                                  |   | › |   |         |   |       |   |      |
| David W. Quinn  Ö  À                                                                                                                                                                                                                                                                                                  |   |    |   |         |   | ˜     |   | ˜    |
| Matthew K. Rose  Ö  À                                                                                                                                                                                                                                                                                                 |   |    |   | ˜       |   |       |   |      |
| Thomas M. Schoewe  Ö  À                                                                                                                                                                                                                                                                                               |   | ˜  |   |         |   |       |   |      |
| ® = Lead Director       Ö = Independent Director        À =Audit Committee Financial Expert         ˜ = Committee Member         › = Committee Chair |

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53

Family Relationships 

Other Governance Matters 

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Table of Contents

Section 16(a) Beneficial Ownership Reporting Compliance 

ITEM 11.    EXECUTIVE COMPENSATION

Compensation Discussion and Analysis

29

| ● | Executive Summary                         |  9  |
|---------|------------------------------------------------|----------|
| ● | Compensation Governance                   |  11 |
| ● | Recent Changes to Compensation Practices       |  11 |
| ● | Compensation Philosophy                        |  12 |
| ● | Fiscal Year 2009 Compensation Process          |  14 |
| ● | Fiscal Year 2009 Compensation Decisions        |  18 |
| ● | Termination and Change in Control Arrangements |  23 |
| ● | Perquisites                                    |  24 |
| ● | Additional Compensation Information            |  25 |
| ● | Executive Compensation for Fiscal Year 2010    |  27 |

Executive Summary

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Table of Contents

|             |   | Potential Payout as % of Target($ in millions) |   |   |   |   |
|------------------|--------|------------------------------------------------|--------|--------|--------|--------|
|             |   | 0%                                             |   |   | 100%   |   |   | 200% |   | Actual($ in millions) |   | Weighting |
| Operating income |   | (300                                           | )      |   | (100   | )      |   | 200 |   | (402 | ) |   | 50% |
| Cash flow        |   | 500                                            |   |   | 1,000  |   |   | 1,750 |   | 1,247 |   |   | 50% |

| Fiscal Year (1) |        | Short-Term Incentive Compensation |              | Long-Term Incentive Compensation |
|-----------------|-------------|-----------------------------------|-------------------|----------------------------------|
|            | Base Salary |                              | Target Amount ($) |                             | Actual Amount Awarded ($) |   | Grant Date Value Awarded ($) (2) |   | Actual Value at Fiscal Year-End($) (3) |
| 2009            |        | 920,000                           |              | 2,750,800                        |   | 1,634,000 |   | 9,000,000 |   | 2,727,696 |
| 2008            |        | 920,000                           |              | 4,000,000                        |   | 0 |   | 3,500,000 |   | 159,165 |
| 2007            |        | 920,000                           |              | 10,000,000                       |   | 0 |   | 10,633,500 |   | 3,482,724 |

| (1) | Based solely on the awards made during such fiscal year. |
|-----|----------------------------------------------------------|

| (2) | Includes for fiscal 2009 the full grant date value of a $5,000,000  award of restricted stock given for retention purposes that has a 5-year cliff vesting condition. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The value was computed based on the closing price of Centex common stock on the NYSE on March 31, 2009, the end of our fiscal year, and the principles described in notes (3) and (4) beginning on page 29, but excludes dividends on restricted stock and intereston deferred cash awards. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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18

12

47

Compensation Governance 

Recent Changes to Compensation Practices 

|   | ● | For fiscal 2009, we lowered the absolute target level of short-term incentive compensation for all of the named executive officers.  See “Fiscal Year 2009 Compensation Process” on page 14. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | In February 2008, we expanded our stock ownership guidelines to add a hold feature under which awarded shares must be held, and 50% of the after-tax value of stock option exercises and long-term performance unit cash payments must now be used to acquire shares, until the guideline is met. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Beginning in fiscal 2008, we capped cash bonuses payable under our Incentive Plan at 200% of the applicable target. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------|

|   | ● | Beginning in fiscal 2008, we separated the calculation of short-term incentive compensation (which continues to be determined based on specific financial and other performance goals) from that of long-term incentive compensation (which is now typically awarded at the beginning of the fiscal year, and payable based on achievement of performance goalsset out in the award or through the appreciation of the value of stock).  See “Fiscal Year 2009 Compensation Process” on page 14. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ● | In fiscal 2008, we introduced long-term performance units, which we refer to as an LTPU or LTPUs, beginning in May 2007.  The LTPUs comprise a portion of the fiscal 2008 and 2009 long-term awards for our senior executives, are performance-based, and the ultimate payout is dependent on Centex’s performance over a three-year period.  See “Long-Term Incentive Compensation”on page 21. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | In our pay planning for fiscal 2008 and subsequent years, we began to target the pay levels of more executives at median with better-defined comparators. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | In February 2007, we implemented a claw-back policy pursuant to which the board may recoup the compensation paid to certain employees in certain circumstances if our financial statements are restated.  See “Policy on Recoupment in Restatement Situations” on page 25. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | In June 2006, we adopted a severance policy for the named executive officers and certain other executives that provides for specified formulas for calculation of severance and also provides a ceiling on the amount of cash severance payments payable upon a termination of employment of no more than 2.99 times the total of annual salary and prior year’s total incentive compensation.  See “ExecutiveSeverance Policy” on page 44. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Compensation Philosophy 

| Element                               |   | Objectives Achieved                                                                                     |   | Purpose                                                                                                                                                                                                 |   | Target Competitive Position                                                                                                                                                                                                                                                       |   | Where Reported in Accompanying Tables                                                                                                                                                                                                                                                                                              |
|---------------------------------------|--------|---------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Base salary                           |   | •Attraction of qualified candidates•Competitive practice                                    |   | Provide annual cash income based on:•level of responsibility, performance and experience•comparison to market pay information                                                               |   | •Compared to median of homebuilding peer group and general industry•Actual salary will vary based on the individual’s performance and experience in the position                                                                                                |   | Summary CompensationTable in the column “Salary”                                                                                                                                                                                                                                                                       |
| Annual cash incentive                 |   | •Pay-for-performance                                                                              |   | Motivate and reward achievement of the following annual performance goals:•corporate key metrics•other corporate and strategic goals                                                        |   | •Target compared to median of homebuilding peer group and general industry with adjustments as performance merits•Payout will vary based on actual performance                                                                                                        |   | Summary CompensationTable in the column “Non-Equity Incentive Plan Compensation” and Grants of Plan-Based Awards table in the column “EstimatedPossible Payouts Under Non-Equity Incentive Plan Awards”                                                                                                    |
| Long-term equity and other incentives |   | •Stockholder alignment•Focus on long-term success•Pay-for-performance•Retention |   | Provide an incentive to create stockholder value and to achieve our long-term objectives through awards of:•performance-based share units•stock option grants•restricted stock awards |   | •Target compared to median of homebuilding peer group and general industry with adjustments as performance merits•Payout will vary based on actual stock performance•Payout of performance-based share units will also vary based on actual company performance |   | Summary CompensationTable in the columns “Stock Awards” and “Option Awards”; Grants of Plan-Based Awards table in the column “GrantDate Fair Value of Stock and Option Awards”; Outstanding Stock Option Awards table; Outstanding Stock Awards table; Option Exercises and Vested Stock table |
| Retirement benefits                   |   | •Retention                                                                                        |   | Provide competitive retirement benefit plans through 401(k) / profit sharing plan                                                                                                                       |   | •Benefits comparable to those of homebuilding peer group                                                                                                                                                                                                                    |   | Summary CompensationTable in the column “All Other Compensation”                                                                                                                                                                                                                                                       |

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| Element |   | Objectives Achieved |   | Purpose |   | Target Competitive Position |   | Where Reported in Accompanying Tables |
|---------|--------|---------------------|--------|---------|--------|-----------------------------|--------|---------------------------------------|

| Perquisites                                                                 |   | •Competitive practice |   | Encourage focus on business operations and, where required, for competitive practice                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | •Programs for executive officers reviewed by the committee annually |   | Summary CompensationTable in the column “All Other Compensation” |
|-----------------------------------------------------------------------------|--------|-----------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|
| Post-termination compensation (change in control, severance and retirement) |   | •Retention            |   | Encourage attraction and retention of executives critical to our long-term success and competitiveness:•executive severance plan, which provides eligible executives with payments and benefits in the event of certain involuntary terminations, including following a change in control (subject to committee approval at certain levels)•payment of target bonus upon change in control (for most senior executives)•executive change in control agreements providing for only a tax gross-up for certain “excess compensation” resulting solely from accelerated vesting in certain change in control events |   | •Programs for executive officers reviewed by the committee          |   | Termination and Change in Control Tables                                     |

|   | ● | Market Comparisons – We compare ourselves to both industry-specific peers and general industry peers for compensation and benefits comparison purposes. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Key operations positions (e.g., Mr. Eller and Mr. Barclay) are compared primarily against industry-specific practices, with consideration given to general industry practices. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | § | Key functional positions (i.e., Ms. Smith, Mr. Bosch, and Mr. Woram) are compared primarily against general industry practices, with consideration given to industry-specific practices. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Competitive Pay Targets – Pay levels are initially targeted at the median of the relevant industry-specific or general industry peer group (market median) for expected levels of performance (market median), with the opportunity for the committee to adjust pay to significantly exceed, or be significantly lower than, the market median whenmerited by performance.  For purposes of setting individual compensation potentials, pay levels include base salary, short-term incentive compensation, and the grant date value of long-term awards. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Performance Target Setting – Performance is measured against both absolute performance standards and the performance of our peers.  Absolute performance standards are determined taking into account expected levels of competitive performance. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Performance Metrics – Short-term incentive compensation will be based on short-term financial and operational metrics that ultimately drive long-term stockholder value.  Long-term performance metrics, when applicable, will be longer-term (typically three years) measures of financial and operational performance that drive long-termstockholder value. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Level of Organizational Performance – All executives have a portion of their incentive compensation, including long-term compensation, focused on overall company performance.  Each executive’s short-term incentive compensation primarily reflects the company’s total results, except for the portion related to his orher performance development plan. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ● | Mix of Pay – The amount of at-risk compensation reflects each position’s degree of impact on business results.  The committee believes that, in the case of the named executive officers, at least 50% of total pay (exclusive of base salary) at expected performance levels should consist of long-term incentive compensation. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Fiscal Year 2009 Compensation Process 

21

|   | ● | At the beginning of the fiscal year: (1) setting overall company performance goals for the year, and (2) setting individual levels of target short-term incentive compensation for the year and a range of value of potential long-term awards to be awarded after the end of the year (unrelated to the fiscal year’s performance, but related to future years’ performance). |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | After the end of the fiscal year: (3) measuring actual performance and comparing it to the approved performance metrics to determine individual compensation potentials under the performance plan, and then exercising discretion to reduce the amounts, if appropriate, and (4) awarding long-term incentive compensation to the named executive officers. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Market Comparison.  We review competitive compensation data from both (1) the homebuilding industry and (2) non-homebuilding industry companies, or “general industry companies,” to establish base salary ranges, total annual short-termincentive compensation targets, and total direct compensation targets for our senior executives. 

|   | ● | Hewitt 2006 Total Compensation Measurement (TCM) Executive Regression Analysis |
|--------|---------|--------------------------------------------------------------------------------|

|   | ● | Towers Perrin 2007 Executive Compensation Database |
|--------|---------|----------------------------------------------------|

|   | ● | William M. Mercer 2007 Mercer Benchmark Database – Executive |
|--------|---------|--------------------------------------------------------------------|

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Setting Performance Goals.  Early in the fiscal year, the committee, working with senior management and the committee’s compensation consultant, reviewed our projected performance for the current fiscal year.  Thecommittee also reviewed the comparative company data described above to establish levels of target short-term incentive compensation and the potential range of value of potential long-term incentive compensation awards.  Then the committee set performance goals, which are the ranges of performance standards (also called metrics) for which the executives would be paid short-term incentive compensation. 

| Goals                                                                                     |   | Timothy R. Eller |   | Catherine R. Smith, David L. Barclay, Joseph A. Bosch, and Brian J. Woram |
|-------------------------------------------------------------------------------------------|--------|------------------|--------|---------------------------------------------------------------------------|
| Corporate key financial goals                                                             |   | 100%             |   | 75%                                                                       |
| Other corporate financial and strategic performance goals (performance development plans) |   | —          |   | 25%                                                                       |
| Total                                                                                     |   | 100%             |   | 100%                                                                      |

|   | ● | Operating income, which consists of earnings from continuing operations before impairments and income taxes from Centex as a whole for fiscal 2009 (accounting for our financial services businesses under the equity method), and |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Cash flow, which consists of cash flow from continuing operations from Centex as a whole for fiscal 2009. |
|--------|---------|-----------------------------------------------------------------------------------------------------------|

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|   | ● | strategy execution |
|--------|---------|--------------------|

|   | ● | process improvement |
|--------|---------|---------------------|

|   | ● | cost reduction |
|--------|---------|----------------|

|   | ● | talent development and management |
|--------|---------|-----------------------------------|

|   | ● | Annual cash compensation (base salary and short-term incentive compensation (cash bonus)); and |
|--------|---------|------------------------------------------------------------------------------------------------|

|   | ● | Long-term equity and performance-based incentive compensation. |
|--------|---------|----------------------------------------------------------------|

Setting Individual Compensation Potentials

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| Name               |   | Base Salary ($) |   | Target Short-Term Incentive Compensation ($) |   | TargetLong-Term Incentive Compensation ($) |   | TargetTotalDirect Compensation ($) |
|--------------------|--------|-----------------|--------|----------------------------------------------|--------|--------------------------------------------|--------|------------------------------------|
| Catherine R. Smith |   | 572,000         |   | 572,000                                      |   | 1,500,000                                  |   | 2,644,000                          |
| David L. Barclay   |   | 475,000         |   | 950,000                                      |   | 1,500,000                                  |   | 2,925,000                          |
| Joseph A. Bosch    |   | 410,000         |   | 328,000                                      |   | 600,000                                    |   | 1,338,000                          |
| Brian J. Woram     |   | 450,000         |   | 450,000                                      |   | 600,000                                    |   | 1,500,000                          |

| Name               |   | Target Payment Amountas % of Base Salary |   | Possible Payout                    |
|--------------------|--------|------------------------------------------|--------|------------------------------------|
| Timothy R. Eller   |   | 299%                                     |   | 0% - 200% of target payment amount |
| Catherine R. Smith |   | 100%                                     |   |
| David L. Barclay   |   | 200%                                     |   |
| Joseph A. Bosch    |   | 80%                                      |   |
| Brian J. Woram     |   | 100%                                     |   |

29

|   | ● | Short-term incentive compensation is included at the target level, while the Summary Compensation Table reflects the actual amount awarded for fiscal 2009. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Long-term incentive awards are valued at the full grant date value instead of the amounts required to be included in the Summary Compensation Table.  Accounting rules require long-term awards that vest over multiple years to be expensed in equal annual portions over the vesting period, so that expense of current year time-vested awards alsoappears in later years, and the expense of certain prior year time-vested awards appears in the current year. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | In setting total annual direct compensation targets, the committee does not include deferred compensation earnings or other compensation, although those amounts are required to be included in the Summary Compensation Table. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ● | Conducting a review of the competitive market and peer data (including base salary, annual incentive targets, long-term incentive targets, and estimated performance data) for our CEO; |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | At the committee’s request, reviewing and commenting on recommendations by management concerning executive pay programs, including pay philosophy, pay levels, incentive pay mix, program changes and redesign, special awards, change in control provisions, promotions, retirement, compensation trends, etc., as desired by the committee; and |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Reviewing and commenting on the committee’s report for the proxy statement. |
|--------|---------|-----------------------------------------------------------------------------------|

29
33

Fiscal Year 2009 Compensation Decisions 

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|             |   | Potential Payout as % of Target($ in millions) |   |   |   |   |
|------------------|--------|------------------------------------------------|--------|--------|--------|--------|
|             |   | 0%                                             |   | 100%   |   | 200%   |   | Actual($ in millions) |   | Actual Payoutas % of Target |
| Operating income |   | (300                                           | )      |   | (100   | )      |   | 200 |   | (402 | ) |   | 0 | % |
| Cash flow        |   | 500                                            |   |   | 1,000  |   |   | 1,750 |   | 1,247 |   |   | 133 | % |

The committee reviewed and certified the calculated and awarded short-term incentive compensation in light of a number of factors:  our total company performance, our performance after taking into account impairment charges and other special charges this year, our relative performance againstthe peer homebuilders, and the incentive compensation paid to other homebuilding executives during recent quarters.  The committee discussed the calculated incentive compensation with the committee’s compensation consultant and used his input in coming to their conclusions.  The committee also discussed the projected incentive compensation of the named executive officers with the CEO. 

CEO Compensation

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| Name             |   | Target Short-Term Incentive Compensation ($) |   | Calculated Short-Term Incentive Compensationper Plan ($) |   | Actual Short-Term Incentive Compensation Payout ($) |
|------------------|--------|----------------------------------------------|--------|----------------------------------------------------------|--------|-----------------------------------------------------|
| Timothy R. Eller |   | 2,750,800                                    |   | 1,746,758                                                |   | 1,634,000                                           |

21

| Principal Compensation Committee Decisions |
|--------------------------------------------|
|                                       |   | Cash-Based |   | Long-Term Awards |   |   |
| Meeting Date                               |   | BaseSalary ($) |   | Short-Term Incentive Compensation ($) |   | Grant Date Fair Value of Stock Options ($) |   | Other Long-Term Awards ($) (1) |   | Total ($) |
| May 09                                     |   | 920,000 |   | 1,634,000 |   | 0 |   | 0 |   | 2,554,000 |
| May 08                                     |   | 920,000 |   | 0 |   | 2,000,000 |   | 7,000,000 |   | 9,920,000 |
| May 07                                     |   | 920,000 |   | 0 |   | 1,500,000 |   | 2,000,000 |   | 4,420,000 |
| May 06                                     |   | 920,000 |   | 10,633,500 |   | 5,316,744 |   | 5,316,756 |   | 22,187,000 |

| (1) | For May 2008, includes the full value of the restricted stock retention award with a grant date fair value of $5,000,000 approved in July 2008. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

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Other Executive Officer Compensation

| Name               |   | Target Short-Term Incentive Compensation ($) |   | Calculated Short-Term Incentive Compensation per Plan ($) (1) |   | Actual Short-Term Incentive Compensation Payout ($) |
|--------------------|--------|----------------------------------------------|--------|--------------------------------------------------------------------|--------|-----------------------------------------------------|
| Catherine R. Smith |   | 572,000                                      |   | 411,154                                                            |   | 410,981                                             |   |
| David L. Barclay   |   | 950,000                                      |   | 682,860                                                            |   | —                                             |  (2) |
| Joseph A. Bosch    |   | 328,000                                      |   | 235,766                                                            |   | 225,344                                             |   |
| Brian J. Woram     |   | 450,000                                      |   | 323,460                                                            |   | 323,324                                             |   |

| (1) | Assumes funding of the performance development plans at 100% of target. |
|-----|-------------------------------------------------------------------------|

| (2) | Mr. Barclay’s employment was terminated as of March 31, 2009 and, accordingly, he received severance benefits instead of an incentive compensation payment for fiscal 2009.  See “Termination and Change in Control Arrangements” on page 23. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Long-Term Incentive Compensation

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| May 2008 Long-Term Awards |
|---------------------------|
| Name                      |   | Grant DateFair Value of Stock Options ($) |   | Target Valueof Long-Term Performance Units ($) |
| Timothy R. Eller          |   | 2,000,000 |   | 2,000,000 |
| Catherine R. Smith        |   | 750,000 |   | 750,000 |
| David L. Barclay     |   | 750,000 |   | 750,000 |
| Joseph A. Bosch           |   | 300,000 |   | 300,000 |
| Brian J. Woram            |   | 300,000 |   | 300,000 |

|                                                         |   | Potential Payout as % of Target |
|--------------------------------------------------------------|--------|---------------------------------|
|                                                         |   | 0%                              |   | 25% |   | 100% |   | 200% |
| Relative total stockholder return(expressed as a percentile) |   | <25th                        |   | 25th |   | 50th |   | 100th |

Special Restricted Stock Awards.  In July 2008, the committee also approved an award of restricted stock to the CEO and certain executive officers as a retention award.  These awards were in addition to the long-termperformance-based awards described above. 

----

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| Name               |   | Grant Date Fair Value of Restricted Stock ($) |
|--------------------|--------|-----------------------------------------------|
| Timothy R. Eller   |   | 5,000,000                                     |
| Catherine R. Smith |   | 500,000                                       |
| Joseph A. Bosch    |   | 450,000                                       |
| Brian J. Woram     |   | 600,000                                       |

Special Deferred Cash Awards.  On March 13, 2009, the committee made deferred cash awards of $1,144,000 to Ms. Smith, our executive vice president and chief financial officer, and $900,000 to Mr. Woram, our senior vice presidentand chief legal officer.  The awards were made under our executive deferred compensation plan.  The awards will vest and be paid out in five equal installments made over a 2½-year period beginning June 30, 2009 and ending on December 31, 2011, and will not bear interest.  The committee made the awards for retention purposes in order to assure the continued engagement and assistance of these individuals during the current downturn in the housing market. 

27

Termination and Change in Control Arrangements 

44

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40

46

43

Perquisites 

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Additional Compensation Information

Policy Regarding Grant of Equity Awards.  We have adopted a policy regarding the grant of equity awards under the terms of our various equity plans.  We make equity awards to enhance the link between the creationof stockholder value and long-term incentive compensation, provide an opportunity for increased equity ownership by employees and directors and maintain competitive levels of total compensation. 

Policy on Recoupment in Restatement Situations.  As described above, a significant percentage of our executive officer compensation is incentive-based.  This is an important aspect ofour “pay-for-performance” culture.  The determination of the extent to which the incentive objectives are achieved is based on our published financial results and the committee’s ability to exercise negative discretion.  In addition, the Sarbanes-Oxley Act of 2002 mandates that the chief executive officer and the chief financial officer reimburse us for any bonus or other incentive-based or equity-based compensation paid to them in a year following the issuance of financialstatements that are later required to be restated as a result of misconduct. 

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|   | ● | the board or committee concludes in good faith that the person engaged in fraud or intentional misconduct that caused or partially caused the need for the restatement; |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | the amount of the incentive compensation was calculated upon the achievement of financial results that were subsequently the subject of a restatement; and |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | the amount of the incentive compensation that would have been awarded to the person had the financial results been properly reported would have been lower than the amount actually awarded. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

Tax Deduction for Executive Compensation.  Section 162(m), as clarified by the Internal Revenue Service, generally disallows a federal income tax deduction to public corporations for compensation over $1,000,000 paid for anyfiscal year to the corporation’s chief executive officer and the three other most highly compensated executive officers, other than its chief financial officer, at the end of any fiscal year.  However, the regulations currently exempt qualifying performance-based compensation from the deduction limit if certain requirements are met. 

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Executive Compensation for Fiscal Year 2010 

| Name               |   | Base Salary ($) |
|--------------------|--------|-----------------|
| Timothy R. Eller   |   | 920,000         |
| Catherine R. Smith |   | 572,000         |
| Joseph A. Bosch    |   | 410,000         |
| Brian J. Woram     |   | 450,000         |

Long-Term Incentive Compensation.  In May 2009, the committee also considered long-term incentive compensation awards to the named executive officers.  Theseawards are made independent of the prior fiscal year’s performance goals, and are to align management with stockholder interests, motivate future performance and for retention purposes.  The committee reviewed the range of potential long-term awards that it established at the beginning of fiscal 2009 and considered our overall performance for fiscal 2009, the individual performance of the named executive officers, and other factors.  The committee decided to award long-term incentivecompensation to the named executive officers within the range of the potential long-term awards that the committee established at the beginning of the fiscal year (without reference to the special 2008 restricted stock awards) except that no award was made to Mr. Eller in light of his retention grant in fiscal 2009, and his anticipated equity awards from Pulte in connection with the pending merger.  The value of the awards was consistent with our competitive pay targets, and the awards were as follows: 

----

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| Name               |   | Grant Date Fair Value of Restricted Stock ($) |   | Grant Date Fair Value of Restricted Stock Units ($) |
|--------------------|--------|-----------------------------------------------|--------|-----------------------------------------------------|
| Timothy R. Eller   |   | 0                                             |   | 0                                                   |
| Catherine R. Smith |   | 675,000                                       |   | 225,000                                             |
| Joseph A. Bosch    |   | 375,000                                       |   | 125,000                                             |
| Brian J. Woram     |   | 412,500                                       |   | 137,500                                             |

| % of Cash Flow from OperationsTarget Achieved |   | Restricted Stock Award Vesting |
|-----------------------------------------------|--------|--------------------------------|
| 50% or greater                                |   | 100% vests over 3 years        |
| 45%                                           |   | 90% vests over 3 years         |
| 40%                                           |   | 80% vests over 3 years         |
| 35%                                           |   | 70% vests over 3 years         |
| 30%                                           |   | 60% vests over 3 years         |
| 25%                                           |   | 50% vests over 3 years         |
| less than 25%                                 |   | 0% vests over 3 years          |

However, if the proposed combination transaction with Pulte Homes, Inc. is consummated, (a) all of the restricted stock unit awards will be forfeited (25% of the total value) and (b) the performance condition on the restricted stock awards will be deemed satisfied at the target level, but there will be no time-based accelerated vestingof the awards upon the change in control. 

Compensation and Management Development Committee Report 

9
28

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Summary Compensation Table 

| Name andPrincipal Position                                              |   | Fiscal Year |   | Salary($) (1) |   | Bonus($) (2) |   | Stock Awards($) (3) |   | Option Awards($) (4) |   | Non-EquityIncentive Plan Compen-sation($) (5) |   | Change in Pension Value and Non-qualified Deferred Compen- sation Earnings($) (6) |   | All Other Compen- sation($) (7) |   | Total ($) |
|-------------------------------------------------------------------------|--------|-------------|--------|--------------------|--------|-------------------|--------|--------------------------|--------|---------------------------|--------|----------------------------------------------------|--------|----------------------------------------------------------------------------------------|--------|--------------------------------------|--------|-----------|
| Timothy R. Eller,Chairman, Chief Executive Officer, Director            |   | 2009        |   | 920,000            |   | —           |   | 961,489                  |   | 2,686,274                 |   | 1,711,752                                          |   | 10,860                                                                                 |   | 1,041                                |   | 6,291,416 |
| 2008                                                                    |   | 920,000     |   | —            |   | 6,762,321         |   | 3,701,346                |   | 216,459                   |   | 8,254                                              |   | 1,600,477                                                                              |   | 13,208,857                           |
| 2007                                                                    |   | 920,000     |   | —            |   | 6,260,982         |   | 4,669,196                |   | 325,253                   |   | —                                            |   | 100,519                                                                                |   | 12,275,950                           |
| Catherine R. Smith,Executive Vice President and Chief Financial Officer |   | 2009        |   | 572,000            |   | —           |   | 834,935                  |   | 571,868                   |   | 410,981                                            |   | —                                                                                |   | 15,275                               |   | 2,405,059 |
| 2008                                                                    |   | 542,375     |   | 492,000            |   | 693,533           |   | 321,872                  |   | —                   |   | —                                            |   | 25,546                                                                                 |   | 2,075,326                            |
| 2007                                                                    |   | 229,167     |   | 1,085,595          |   | 130,002           |   | 130,002                  |   | —                   |   | —                                            |   | 179,352                                                                                |   | 1,754,118                            |
| David L. Barclay,President – Land Division, Centex Homes     |   | 2009        |   | 475,000            |   | —           |   | 236,750                  |   | 755,691                   |   | 60,426                                             |   | 7,598                                                                                  |   | 2,177,285                            |   | 3,712,750 |
| 2008                                                                    |   | 470,833     |   | —            |   | 978,152           |   | 843,098                  |   | 405,193                   |   | 2,523                                              |   | 166,211                                                                                |   | 2,866,010                            |
| 2007                                                                    |   | 450,000     |   | —            |   | 909,076           |   | 987,871                  |   | 113,765                   |   | —                                            |   | 26,839                                                                                 |   | 2,487,551                            |
| Joseph A. Bosch,Senior Vice President – Human Resources           |   | 2009        |   | 410,000            |   | —           |   | 355,131                  |   | 243,748                   |   | 225,344                                            |   | —                                                                                |   | 10,309                               |   | 1,244,532 |
| 2008                                                                    |   | 410,000     |   | 544,000            |   | 320,125           |   | 143,751                  |   | —                   |   | —                                            |   | 18,088                                                                                 |   | 1,435,964                            |
| 2007                                                                    |   | 315,385     |   | 544,000            |   | 76,878            |   | 76,878                   |   | —                   |   | —                                            |   | 1,208                                                                                  |   | 1,014,349                            |
| Brian J. Woram,Senior Vice President and Chief Legal Officer            |   | 2009        |   | 450,000            |   | —           |   | 167,138                  |   | 411,345                   |   | 333,887                                            |   | 1,494                                                                                  |   | 7,705                                |   | 1,371,569 |
| 2008                                                                    |   | 437,500     |   | —            |   | 455,006           |   | 465,715                  |   | 371,902                   |   | 764                                                |   | 107,284                                                                                |   | 1,838,171                            |
| 2007                                                                    |   | 375,000     |   | —            |   | 380,912           |   | 492,793                  |   | 25,925                    |   | —                                            |   | 29,639                                                                                 |   | 1,304,269                            |

| (1) | Each of the named executive officers, other than Mr. Eller, contributed a portion of his or her salary to our 401(K) savings plan, which we refer to as the Saving for Retirement Plan. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | These amounts reflect non-performance-based cash awards.  The named executive officers did not receive in fiscal 2009 payments that would be characterized as “Bonus” payments for purposes of this column.  They did, however, receive cash incentive compensation awards for fiscal 2009, which are reported in the Non-Equity Incentive Plan Compensation column.  Theamount shown for Ms. Smith for fiscal 2008 represents her guaranteed short-term incentive compensation cash award for such fiscal year.  The amount shown for Ms. Smith for fiscal 2007 represents (a) the $300,000 starting bonus she received when she joined Centex in October 2006, (b) the $500,000 initial cash award she received in two installments on November 1, 2006 and April 1, 2007, and (c) her guaranteed short-term incentive compensation cash award for fiscal year 2007 of $285,595 paid in May 2007.  Theamounts shown for Mr. Bosch for fiscal 2008 and 2007 represent his guaranteed short-term incentive compensation cash award for those fiscal years. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

   

| (3) | Represents the dollar amount recognized for financial statement reporting purposes for the applicable fiscal year in accordance with FAS 123R of restricted stock, restricted stock unit, and LTPU awards, and thus includes amounts for awards granted in and/or prior to the applicable fiscal year.  Assumptions used in the calculation of these amounts are included in footnote (K)to our audited financial statements for each of the fiscal years listed in the table, which are included in our Annual Reports on Form 10-K for the fiscal years ended March 31, 2007, 2008, and 2009, respectively.  The |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | recognized compensation expense of the stock awards for financial reporting purposes will vary from the actual amount ultimately realized by the named executive officer based on a number of factors.  The ultimate value of the award will depend on the closing sale price of our common stock on the NYSE on the vesting date. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

23

| Name                   |   | Based on Total FAS 123R Value (a) |   | Based on 3/31/09 Market Value (b)(c) |
|------------------------|--------|-----------------------------------|--------|--------------------------------------|
| Fiscal 2009 Grants ($) |   | Prior Year Grants ($)             |   |                                 | Total ($) |   | Fiscal 2009 Grants ($) |   | Prior Year Grants ($) |   |   | Total ($) |
| Timothy R. Eller       |   | 1,128,068                         |   | (166,579                             | ) |   | 961,489 |   | 999,656 |   | (698,280 | ) |   | 301,376 |
| Catherine R. Smith     |   | 113,239                           |   | 721,696                              |   |   | 834,935 |   | 110,720 |   | 115,528 |   |   | 226,248 |
| Joseph A. Bosch        |   | 73,077                            |   | 282,054                              |   |   | 355,131 |   | 58,529 |   | 34,590 |   |   | 93,119 |
| Brian J. Woram         |   | 89,747                            |   | 77,391                               |   |   | 167,138 |   | 67,075 |   | (39,637 | ) |   | 27,438 |

|   | (a) | Reflects values in the Stock Awards column of the Summary Compensation Table. |
|--------|-----|-------------------------------------------------------------------------------|

|   | (b) | The performance and value assumptions for the LTPUs are included in note (3) on page 37. |
|--------|-----|------------------------------------------------------------------------------------------|

|   | (c) | Based on the closing sale price of Centex common stock on the NYSE of $7.50 per share on March 31, 2009. |
|--------|-----|----------------------------------------------------------------------------------------------------------|

| (4) | Represents the dollar amount recognized for financial statement reporting purposes for the applicable fiscal year in accordance with FAS 123R of stock option awards, and thus includes amounts for awards granted in and/or prior to the applicable fiscal year.  The FAS 123R expenses for option awards shown are based on the Black-Scholes valuations of stock options granted, which inturn are based on the value of Centex common stock on the date of grant, which was at higher levels than its market value as of fiscal 2009 year-end.  Assumptions used in the calculation of these amounts are included in footnote (K) to our audited financial statements for each of the fiscal years listed in the table, which are included in our Annual Reports on Form 10-K for the fiscal years ended March 31, 2007, 2008, and 2009, respectively. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

23

| Name               |   | Grant Date             |   | Share Price at Grant Date ($) |   | Option Grant Date Fair Value per Share ($) (a) |   | Total Options Granted |   | FY09 Expense per FAS 123R ($) (b)                                                      |   | Intrinsic Value as of 3/31/09 ($) (c) |
|--------------------|--------|------------------------|--------|-------------------------------|--------|-----------------------------------------------------|--------|-----------------------|--------|---------------------------------------------------------------------------------------------|--------|--------------------------------------------|
| Timothy R. Eller   |   | 5/11/065/10/075/07/08  |   | 54.5045.5322.08               |   | 20.0816.617.91                                      |   | 264,77890,307252,844  |   | 1,772,115247,500   666,659Total    2,686,274             |   | 00 00                                 |
| Catherine R. Smith |   | 10/16/065/10/075/07/08 |   | 52.4845.5322.08               |   | 22.1416.617.91                                      |   | 58,71722,57694,816    |   | 259,99961,873 249,996Total       571,868            |   | 00 00                                 |
| Joseph A. Bosch    |   | 6/26/065/10/075/07/08  |   | 50.9045.5322.08               |   | 21.9616.617.91                                      |   | 23,33815,05137,926    |   | 102,50141,250   99,997Total       243,748 |   | 00 00                                 |
| Brian J. Woram     |   | 5/11/065/10/075/07/08  |   | 54.5045.5322.08               |   | 20.0816.617.91                                      |   | 37,27522,57637,926    |   | 249,47561,873   99,997Total       411,345 |   | 00 00                                 |

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|   | (a) | The option grant date fair value per share is based on the Black-Scholes option pricing model, using assumptions in the calculation of these amounts as set forth in our audited financial statements described above. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Reflects values under Option Awards column of the Summary Compensation Table.  The fiscal 2009 expense in accordance with FAS 123R is calculated as follows: Total options multiplied by the option grant date fair value per share and divided by the number of months for the full vesting period = expense per month.  For grants in fiscal 2009, the expense commenced on thegrant date of May 7, 2008. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Based on the closing sale price of Centex common stock on the NYSE of $7.50 per share on March 31, 2009. |
|--------|-----|----------------------------------------------------------------------------------------------------------|

| (5) | The amounts shown as “Non-Equity Incentive Plan Compensation” consist of the following: |
|-----|-----------------------------------------------------------------------------------------------------|

Non-Equity Plan Compensation (Supplemental Table)

| Name                  |    | FiscalYear |   | Short-Term (Cash) Incentive Compensation ($) (a) |   | Earnings on Deferred Cash Compensation ($) (b)(c) |
|-----------------------|---------|------------|--------|-------------------------------------------------------|--------|--------------------------------------------------------|
| Timothy R. Eller      |    | 2009       |   | 1,634,000                                             |   | 77,752                                                 |
| 2008                  | — | 216,459    |
| 2007                  | — | 325,253    |
| Catherine R. Smith    |    | 2009       |   | 410,981                                               |   | —                                                |
| 2008                  | — | —    |
| 2007                  | — | —    |
| David L. Barclay |    | 2009       |   | —                                               |   | 60,426                                                 |
| 2008                  | 340,000 | 65,193     |
| 2007                  | 19,794  | 93,971     |
| Joseph A. Bosch       |    | 2009       |   | 225,344                                               |   | —                                                |
| 2008                  | — | —    |
| 2007                  | — | —    |
| Brian J. Woram        |    | 2009       |   | 323,324                                               |   | 10,563                                                 |
| 2008                  | 352,000 | 19,902     |
| 2007                  | — | 25,925     |

|   | (a) | Short-term incentive compensation cash awards paid in May for services rendered in the immediately preceding fiscal year.  These amounts were paid pursuant to our Annual Plan.  For fiscal 2009, they are discussed in more detail under “CEO Compensation” on page 19 and “Other Executive Officer Compensation” onpage 21. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Represents interest earned in the applicable fiscal year on outstanding deferred cash compensation awards, and thus includes interest earned on awards granted in and/or prior to that fiscal year.  Includes amounts included in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column of the Summary Compensation Table.  The interest earned is alsoincluded in the Aggregate Earnings in Last Fiscal Year column of the Nonqualified Deferred Compensation table on page 38. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Deferred cash compensation awards are subject to vesting requirements and bear interest at our current blended borrowing cost, as determined quarterly by our treasurer.  Such cost (on a weighted average basis) was 5.965% for fiscal 2009, 5.883% for fiscal 2008, and 5.821% for fiscal 2007.  Payouts of vested amounts of deferred cash compensation are made upon terminationof the employee’s employment or pursuant to elections made by the employee at the time of grant or at limited times thereafter.  Unvested amounts are subject to forfeiture upon termination of employment, except that all amounts immediately vest if employment terminates because of death, disability, or (for awards made prior to April 1, 2006) “vested retirement,” and upon a change in control of Centex.  Deferred cash compensation awards are described in greater detailunder “Executive Deferred Compensation Plan” on page 39. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Represents interest payments earned on prior year deferred cash compensation awards under our Executive Deferred Compensation Plan based on our current blended borrowing cost, which is in excess of an applicable federal reference point.  The amounts are also included in the Non-Equity Incentive Plan Compensation column and, therefore, have been double-counted. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (7) | The amounts shown as “All Other Compensation” consist of the following: |
|-----|-------------------------------------------------------------------------------------|

| Name                           |   | Fiscal Year |    | Perquisites ($) (a) |    | Matching 401k Contributions ($) (b) |    | Profit Sharing Plan Contributions ($) (c) |    | SERP Contributions ($) (d) |      | Other ($) (e) |      |
|--------------------------------|--------|-------------|---------|--------------------------|---------|------------------------------------------|---------|-------------------------------------------|---------|---------------------------------|-----------|--------------------|-----------|
| Timothy R. Eller     |   | 2009        |    | —                  |    | —                                  |    | —                                   |    | —                         |      | 1,041              |      |
|                           | 2008   |        | — |                     | — |                                     | — |                                      | — |                            | 1,600,477 |               |
|                           | 2007   |        | — |                     | — |                                     | 6,637   |                                      | 20,850  |                            | 73,032    |               |
| Catherine R. Smith   |   | 2009        |    | —                  |    | 6,900                                    |    | —                                   |    | —                         |      | 8,375              |      |
|                           | 2008   |        | 10,241  |                     | 4,290   |                                     | — |                                      | — |                            | 11,015    |               |
|                           | 2007   |        | 177,370 |                     | — |                                     | — |                                      | — |                            | 1,982     |               |
| David L. Barclay     |   | 2009        |    | —                  |    | 6,900                                    |    | —                                   |    | —                         |      | 2,170,385          |  (f) |
|                           | 2008   |        | 14,490  |                     | 2,969   |                                     | — |                                      | — |                            | 148,752   |               |
|                           | 2007   |        | 14,281  |                     | — |                                     | 6,595   |                                      | 5,963   |                            | —   |               |
| Joseph A. Bosch      |   | 2009        |    | —                  |    | 6,900                                    |    | —                                   |    | —                         |      | 3,409              |      |
|                           | 2008   |        | 11,384  |                     | 2,050   |                                     | — |                                      | — |                            | 4,654     |               |
|                           | 2007   |        | — |                     | — |                                     | — |                                      | — |                            | 1,208     |               |
| Brian J. Woram       |   | 2009        |    | —                  |    | 6,900                                    |    | —                                   |    | —                         |      | 805                |      |
|                           | 2008   |        | 14,254  |                     | 3,375   |                                     | — |                                      | — |                            | 89,655    |               |
|                           | 2007   |        | 17,986  |                     | — |                                     | 6,574   |                                      | 4,200   |                            | 879       |               |

|   | (a) | Perquisites.  This column relates to perquisites and other personal benefits for auto expense, club dues, annual physical exam, personal aircraft use, expenses related to our board retreats, and personal use of tickets to sporting and other events.  For 2007, for Ms. Smith, this included relocation expenses and therelated tax gross-up.  The amounts reported for perquisites represent the incremental cost of providing the benefit to the recipient, and not the total cost of the item.  No amount is disclosed for an individual if the total amount of the perquisites for that individual was less than $10,000 for the year. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | Several of the named executive officers were provided with either a company car or an automobile allowance.  The incremental cost of this benefit was the fuel and maintenance of the company car, or the actual amount of the auto allowance provided to the executive. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | The cost of providing club dues and annual physical exams for the named executive officers is either the actual cost we paid the provider or the amount reimbursed to the executive for those perquisites. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | Because the annual director’s retreat in May 2008 was cancelled and no tax gross-ups were provided to the named executive officers during fiscal 2009, there was no incremental cost associated with these benefits. |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | During fiscal 2008, we sold the corporate jet owned by Centex, although we retained a partial interest in and access to a leased jet.  During fiscal 2009, this remaining partial interest was sold and we have no further ownership interest in corporate aircraft.  Company aircraft is used primarily for business travel.  However, there are occasions when personaluse occurs.  We calculate the aggregate incremental cost of personal use of company owned or provided aircraft based on our average variable operating costs for the fiscal year.  Variable operating costs include fuel, maintenance, on-board catering, landing/ramp fees and other miscellaneous variable costs.  The total variable operating costs for the fiscal year are divided by the number of hours our aircraft flew during the fiscal year to derive an average variable cost per hour.  Thisaverage variable cost per hour is then multiplied by the hours flown for personal use to derive the incremental cost.  Because company aircraft are used primarily for business travel, the methodology excludes fixed costs that do not change based on usage, such as pilots’ and other employees’ salaries, purchase or lease costs of the aircraft, and non-trip related maintenance and hangar expenses.  Directors, executives, and their families and invited guests occasionally fly on companyaircraft as additional passengers on business flights.  In those cases, our aggregate incremental cost is a de minimis amount and therefore no amount is reflected in the table; however, the value of this benefit (calculated pursuant to IRS guidelines) is imputed as income to the director or executive. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | We purchase tickets to various sporting and entertainment events, which we use to promote business development and partnership building, and to promote our community involvement.  If these tickets are not used for business purposes, they are made available to our employees, including the named executive officers, as a form of employee recognition and reward.  There isno incremental cost to Centex if one of the named executive officers uses a ticket for personal purposes. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (b) | Matching 401k Contributions. Represents our matching contributions to the accounts of the named executive officers pursuant to our Saving for Retirement Plan.  These contributions were made during fiscal 2009 at the times of the named executive officers’ contributions.  All amounts are fully vested in the individuals,except for Ms. Smith and Mr. Bosch, who are 40% and 60% vested, respectively, as of March 31, 2009. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Profit Sharing Plan Contributions.  Represents our contributions to, and forfeitures allocated to, the accounts of the named executive officers pursuant to our Saving for Retirement Plan.  These contributions and forfeiture allocations were made in May 2007 in respectof the 2006 calendar year.  All amounts are fully vested in the individuals.  No contributions were made for the 2008 or 2009 calendar years. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | SERP Contributions.  Represents our contributions accrued to the accounts of the named executive officers pursuant to our SERP.  These contributions were accrued in May 2007 in respect of the 2006 calendar year.  All the amounts are fully vested in the individuals.  No contributions were madefor the 2008 or 2009 calendar years. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Other.  The following table shows the cash dividends received by the named executive officers on restricted stock awards for the past three fiscal years.  These dividends were paid at the same rate and on the same dates as dividends paid to our stockholders. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name               |   | Fiscal Year |   | Cash Dividends ($) |
|--------------------|--------|-------------|--------|--------------------|
| Timothy R. Eller   |   | 2009        |   | 1,041              |
| 2008               | 10,458 |
| 2007               | 23,824 |
| David L. Barclay   |   | 2009        |   | 0                  |
| 2008               | 0      |
| 2007               | 0      |
| Catherine R. Smith |   | 2009        |   | 8,375              |
| 2008               | 11,015 |
| 2007               | 1,982  |
| Joseph A. Bosch    |   | 2009        |   | 3,409              |
| 2008               | 4,654  |
| 2007               | 1,208  |
| Brian J. Woram     |   | 2009        |   | 805                |
| 2008               | 1,904  |
| 2007               | 879    |

|   | (f) | Mr. Barclay.  Consists of $2,137,500 of severance payments and $32,885 of accrued vacation pay. |
|--------|-----|-----------------------------------------------------------------------------------------------------------|

Compensation Expense

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Table of Contents

Grants of Plan-Based Awards in Fiscal Year 2009

Grants of Plan-Based Awards

|                   |               |                  |           |                                           |   | EstimatedPossible Payouts Under Non-Equity Incentive Plan Awards (1) |    | EstimatedPossible Payouts Under Equity Incentive Plan Awards (2) |          | All Other Stock Awards: Number of Shares of Stock or Units      |            |            |    |            |
|------------------------|--------------------|-----------------------|----------------|------------------------------------------------|--------|----------------------------------------------------------------------|---------|------------------------------------------------------------------|---------------|------------------------------------------------------------------------------------------|-----------------|-----------------|---------|-----------------|
| Name                   |               | GrantDate             |           | Approval Date if Different from Grant Date (3) |   | Thresh-old ($)                                                       |    | Target ($)                                                       |          | Maxi- mum ($)                                                                            |            | Thresh- old ($) |    | Target ($)      |   | Maxi- mum ($) |   | Restricted Stock (#) (4) |   | Restricted Stock Units (#) (5) |   | All Other Option Awards: Number of Securities Underlying Options (#) (6) |   | Exercise or Base Price of Option Awards ($/Sh) |   | Grant Date Fair Value of Stock and Option Awards ($) (7) |
| Timothy R. Eller       |               | 5/07/085/16/088/01/08 |           |   7/9/08                             |   |  0                                                              |    |  2,750,800                                                  |          |  5,501,600                                                                          |            |  0         |    |  2,000,000 |   |  — |   |   341,763 |   |   |   | 252,844 |   | 22.08 |   | 2,000,000 5,000,000 |
| Catherine R. Smith     |               | 5/07/085/16/088/01/08 |           |   7/9/08                             |   |  0                                                              |    |  572,000                                                    |          |  1,144,000                                                                          |            |  0         |    |  750,000   |   |  — |   |   34,176 |   |   |   | 94,816 |   | 22.08 |   | 750,000 500,000 |
| David L. Barclay  |  (8) (9) |                  | 5/07/086/17/08 |                                           |   |                                                                 |  0 |                                                             |  950,000 |                                                                                     |  1,900,000 |            |  0 |            |  750,000 |   |  — |   |   |   |   |   | 94,816 |   | 22.08 |   | 750,000 |
| Joseph A. Bosch        |               | 5/07/085/16/088/01/08 |           |   7/9/08                             |   |  0                                                              |    |  328,000                                                    |          |  656,000                                                                            |            |  0         |    |  300,000   |   |  — |   |   30,758 |   |   |   | 37,926 |   | 22.08 |   | 300,000 450,000 |
| Brian J. Woram         |               | 5/07/085/16/088/01/08 |           |   7/9/08                             |   |  0                                                              |    |  450,000                                                    |          |  900,000                                                                            |            |  0         |    |  300,000   |   |  — |   |   41,011 |   |   |   | 37,926 |   | 22.08 |   | 300,000 600,000 |

| (1) | Represents the potential non-equity incentive compensation (expressed as a dollar value) each executive could earn for fiscal 2009 under the performance goals established under our fiscal 2009 short-term incentive compensation program, as described under “Setting Performance Goals” on page 15 and “Setting Individual CompensationPotentials” on page 16.  These awards were granted in early fiscal 2009 under our Annual Plan.  At the time of the grant, the incentive compensation award could range from the threshold amount of zero (the minimum amount payable) to 200% of target, depending on the extent to which the applicable performance goals were achieved. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

19
21
29
31

| (2) | Represents LTPUs awarded in May 2008 under the 2003 Equity Plan.  The amount listed is the grant date value at target.  The LTPUs were awarded in May 2008 and will be paid in cash in May 2011 provided the goals are met.  At the time of grant, the performance awards could range from the threshold amount of zero to 200% of target, depending on our relative performanceon a performance metric against our peers, and would be further adjusted by the change in sale price of Centex common stock on the NYSE between the thirty-day period preceding April 1, 2008 (the beginning of the performance period) and March 31, 2011 (the end of the performance period).  The performance metrics are earnings per share growth and return on equity.  These awards are described under “Long-Term Incentive Compensation” on page 21. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | These restricted stock awards were approved by the committee on July 9, 2008 and ratified by our independent directors.  In accordance with our policies regarding the grant of equity awards (described on page 25), the committee specified the third business day after our second quarter fiscal 2009 earnings release as the grant datefor these awards. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Shares of restricted stock awarded in August 2008.  The awards were made under the 2003 Equity Plan.  The restricted stock vests at the rate of 33⅓% per year on each of August 1, 2010, 2011, and 2012 (except that Mr. Eller’s award vests in full on August 1, 2013).  The unvested restricted stock is forfeited if we cease to employ the holder beforethe vesting date. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | All shares of restricted stock vest immediately upon the holder’s death or disability or upon a change in control of Centex.  Holders of restricted stock have the right to vote and receive dividends on the shares.  These awards are described under “Special Restricted Stock Awards” on page 22. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | No restricted stock units were awarded to the named executive officers during fiscal 2009. |
|-----|--------------------------------------------------------------------------------------------|

| (6) | Options granted in May 2008.  The options were granted under the 2003 Equity Plan or the 2001 Stock Plan.  The options vest at the rate of 33⅓% per year on each of March 31, 2009, 2010, and 2011.  All the options have a seven-year term.  These awards are described under “Long-Term Incentive Compensation” on page 21. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | The grant date fair value of the restricted stock, restricted stock unit, or stock option awards computed in accordance with FAS 123R. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------|

| (8) | Of this amount, 63,210 stock options vested on March 31, 2009 and the remainder were forfeited in connection with Mr. Barclay’s termination of employment. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (9) | The non-equity incentive award and the equity incentive plan awards listed were forfeited in connection with Mr. Barclay’s termination of employment. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  |   |                                                            |   | Option Awards (1)                                             |
|-----------------------|--------|-----------------------------------------------------------------|--------|---------------------------------------------------------------|
|                  |   |                                                            |   | Number of Securities Underlying Unexercised Options (#)       |   |   |   |   |
| Name                  |   | Grant Date                                                      |   | Exercisable                                                   |   | Unexercisable |   | OptionExercise Price ($) | OptionExpiration Date |
| Timothy R. Eller      |   | 4/01/994/01/004/01/025/14/035/14/045/12/055/11/065/10/075/07/08 |   | 355,518344,408404,402218,754216,000216,000264,77830,10284,281 |   | ———————60,205168,563 |   | 16.2310.7222.6831.8445.2457.3654.5045.5322.08 |   | 4/01/094/01/104/01/095/14/105/14/115/12/125/11/135/10/145/07/15 |
| Catherine R. Smith    |   | 10/16/065/10/075/07/08                                          |   | 23,4867,52531,605                                             |   | 35,23115,05163,211 |   | 52.4845.5322.08 |   | 10/16/135/10/145/07/15 |
| David L. Barclay |   | 4/01/994/01/004/01/025/14/035/14/045/12/055/11/065/10/075/07/08 |   | 33,33029,77425,77681,54837,01744,21165,29515,05063,210        |   | ————————— |   | 16.2310.7222.6831.8445.2457.3654.5045.5322.08 |   | 4/01/093/31/104/01/093/31/103/31/103/31/107/31/097/31/097/31/09 |
| Joseph A. Bosch       |   | 6/26/065/10/075/07/08                                           |   | 9,3355,01712,642                                              |   | 14,00310,03425,284 |   | 50.9045.5322.08 |   | 6/26/135/10/145/07/15 |
| Brian J. Woram        |   | 4/01/994/01/004/01/025/14/035/14/045/12/055/11/065/10/075/07/08 |   | 26,66433,33039,33041,99615,96419,82737,2757,52512,642         |   | ———————15,05125,284 |   | 16.2310.7222.6831.8445.2457.3654.5045.5322.08 |   | 4/01/094/01/104/01/095/14/105/14/115/12/125/11/135/10/145/07/15 |

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| (1) | The stock options become exercisable in accordance with the vesting schedule below. |
|-----|-------------------------------------------------------------------------------------|

| Grant Date |   | Vesting Schedule |
|------------|--------|------------------|
| 6/26/2006  |   |             | 20% per year beginning on the first anniversary of the date of grant |
| 10/16/2006 |   |             | 20% per year beginning on the first anniversary of the date of grant |
| 5/10/2007  |   |             | 331⁄3% per year on March 31, 2009, 2010, and 2011 |
| 5/07/2008  |   |             | 331⁄3% per year on March 31, 2009, 2010, and 2011 |

Outstanding Stock Awards at Fiscal 2009 Year-End 

|                 |   |                                         |   | Time-Based Vesting Awards (1)(2)                            |   | Performance-Based Vesting Awards (3)                              |
|----------------------|--------|----------------------------------------------|--------|-------------------------------------------------------------|--------|-------------------------------------------------------------------|
|                 |   |                                         |   | Number of Shares or Units of Stock That Have Not Vested (#) |   | Market Value of Shares or Units of Stock That Have Not Vested ($) |   | Equity Incentive Plan Awards: Number of Unearned Units That Have Not Vested (#) |   | Equity Incentive Plan Awards: Market or Payout Value of Unearned Units That Have Not Vested ($) |
| Name                 |   | Grant Date                                   |   | Restricted Stock                                            |   | Restricted Stock Units                                            |   | Restricted Stock |   | Restricted Stock Units |
| Timothy R. Eller     |   | 5/17/075/07/088/01/08                        |   |   341,763                                         |   |                                                              |   |   2,563,223 |   |   |   | 42,44487,719 |   | 318,330657,893 |
| Catherine R. Smith   |   | 10/16/065/10/075/17/0710/26/075/07/088/01/08 |   | 14,8645,491 57,471 34,176                         |   |                                                              |   | 111,48041,183 431,033 256,320 |   |   |   |   20,161 32,894 |   |   151,208 246,705 |
| David L. Barclay (4) |   | 5/10/075/07/08                               |   |                                                        |   | 2,746                                                             |   |   |   | 20,595 |   |  32,894 |   |  246,705 |
| Joseph A. Bosch      |   | 6/26/065/10/075/17/0710/26/075/07/088/01/08  |   | 6,0413,660 22,558 30,758                          |   |                                                              |   | 45,30827,450 169,185 230,685 |   |   |   |   11,672 13,157 |   |   87,540 98,678 |
| Brian J. Woram       |   | 5/10/075/17/075/07/088/01/08                 |   | 5,491  41,011                                     |   |                                                              |   | 41,183  307,583 |   |   |   |  16,97713,157 |   |  127,32898,678 |

| (1) | The restricted stock is forfeited if we cease to employ the holder before the vesting date.  All shares of restricted stock vest immediately upon the holder’s death or disability or upon a change in control of Centex.  Holders of restricted stock have the right to vote and receive dividends on the shares.  The restricted stock vests in accordance withthe vesting schedule below. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Grant Date |   | Vesting Schedule |
|------------|--------|------------------|
| 6/26/2006  |   |             | 20% per year beginning on the first anniversary of the date of grant |
| 10/16/2006 |   |             | 20% per year beginning on the first anniversary of the date of grant |
| 5/10/2007  |   |             | 331⁄3% per year on March 31, 2009, 2010, and 2011 |
| 10/26/2007 |   |             | 25% per year beginning on the first anniversary of the date of grant |
| 8/01/2008  |   |             | 331⁄3% per year beginning on the second anniversary of the date of grant (except thatMr. Eller’s award vests in full on August 1, 2013) |

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| (2) | The restricted stock units represent the right to receive on the payout date specified in the award (or a payment election) a number of shares of Centex common stock equal to the number of units awarded, subject to vesting requirements.  The units are forfeited if we cease to employ the holder before the vesting date.  All units vest immediately upon the holder’sdeath or disability or upon a change in control of Centex.  The units do not entitle the recipients to receive dividends or to any other rights as a stockholder.  The units vest in accordance with the vesting schedule below. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Grant Date |   | Vesting Schedule |
|------------|--------|------------------|
| 5/10/2007  |   |             | 331⁄3% per year on March 31, 2009, 2010, and 2011 |

| (3) | The LTPU represents the right to receive on the payout date specified in the award an amount of cash, if any, equal to the number of units awarded, as adjusted by our relative performance on a business performance metric, as described under “Long-Term Incentive Compensation” onpage 21, times (i) for the May 2007 LTPU award, the closing sale price of Centex common stock on the NYSE on March 31, 2010, and (ii) for the May 2008 LTPU award, the closing sale price of Centex common stock on the NYSE for the thirty-day period preceding April 1, 2011.  Each awardhas a three-year cliff vesting expiring on March 31, 2010 (May 2007 LTPU) or March 31, 2011 (May 2008 LTPU ), but all or a portion may be paid out in accordance with the terms of the award upon the holder’s death, disability, retirement, termination not for cause, or upon a change of control.  For purposes of FAS 123R, the value of the May 2007 LTPU award was estimated using a performance factor of 75% of target metrics, and the value of the May 2008 LTPU award was determined using an option pricingmodel that estimated performance as well as future market conditions. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | The amounts shown for Mr. Barclay reflect the stock awards (restricted stock units and LTPUs) that did not vest at March 31, 2009, and which were forfeited. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  |   | Option Awards                             |   | Stock Awards                            |
|-----------------------|--------|-------------------------------------------|--------|-----------------------------------------|
|                  |   |                                      |   |                                    |   | Restricted Stock |   | Restricted Stock Units/LTPUs |
|                  |   | Number of Shares Acquired on Exercise (#) |   | Value Realized on Exercise ($) (1) |   | Number of Shares Acquired on Vesting (#) |   | Number of Shares Surrendered for Taxes (#) |   | Value Realized on Vesting ($) (2) |   | Number of Shares or Units Acquired on Vesting (#) |   | Number of Shares Surrendered for Taxes (#) |   | Value Realized on Vesting ($) (2) |
| Timothy R. Eller      |   | —                                   |   | —                                 |   | 13,008 |   | 3,441 |   | 97,560 |   | — |   |   | — |   | — |
| Catherine R. Smith    |   | —                                   |   | —                                 |   | 26,856 |   | 7,106 |   | 238,524 |   | — |   |   | — |   | — |
| David L. Barclay |   | —                                   |   | —                                 |   | — |   | — |   | — |   | 11,21731,833 |  (3) (4) |   | 2,170 |   | 85,387119,370 |
| Joseph A. Bosch       |   | —                                   |   | —                                 |   | 11,363 |   | 3,035 |   | 108,381 |   | — |   |   | — |   | — |
| Brian J. Woram        |   | —                                   |   | —                                 |   | 4,576 |   | — |   | 34,320 |   | — |   |   | — |   | — |

| (1) | Based on the difference between the market price of Centex common stock on the NYSE at the time of exercise of the option and the exercise price of the option. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Based on the closing sale price of Centex common stock on the NYSE on the vesting date. |
|-----|-----------------------------------------------------------------------------------------|

| (3) | An aggregate of 8,472 of these restricted stock units vested during fiscal 2009, and the vesting of an additional 2,745 units was accelerated in connection with the termination of employment.  Of the aggregate number of restricted stock units that vested during the fiscal year, distribution of 5,328 units is deferred until October 2, 2009 pursuant to Section 409A of the InternalRevenue Code. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Long-term performance units that were accelerated in connection with Mr. Barclay’s termination of employment and will be payable in cash in the amount of $119,370 subject to mandatory deferral until October 2, 2009, pursuant to Section 409A of the Internal Revenue Code. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Nonqualified Deferred Compensation

|                  |   | Executive Contributions inLast Fiscal Year ($) |   | Registrant Contributions inLast Fiscal Year ($) |   | Aggregate Earningsin Last Fiscal Year ($)  |   | Aggregate Withdrawals/ Distributions ($) |   | Aggregate BalanceAt Last Fiscal Year End ($) |
|-----------------------|--------|------------------------------------------------|--------|-------------------------------------------------|--------|--------------------------------------------|--------|------------------------------------------|--------|----------------------------------------------|
| Name                  |   | Deferred Cash Compen-sation                    |   | SERP                                            |   | Deferred Cash Compen-sation  (1) |   | SERP (2)                                 |   | Deferred Cash Compen-sation (1)(3)           |   | SERP (4) |   | Deferred Cash Compen-sation (1)(5) |   | SERP |   | Deferred Cash Compen-sation (1)(6) |   | SERP (7) |   | Total |
| Timothy R. Eller      |   | —                                        |   | —                                         |   | —                                    |   | —                                  |   | 77,752                                       |   | (270,959 | ) |   | 2,420,312 |   | — |   | 1,251,342 |   | 474,714 |   | 1,726,056 |
| Catherine R. Smith    |   | —                                        |   | —                                         |   | —                                    |   | —                                  |   | —                                      |   | — |   |   | — |   | — |   | — |   | — |   | — |
| David L. Barclay |   | —                                        |   | —                                         |   | —                                    |   | —                                  |   | 60,426                                       |   | (11,093 | ) |   | 577,178 |   | — |   | 587,583 |   | 70,484 |   | 658,067 |
| Joseph A. Bosch       |   | —                                        |   | —                                         |   | —                                    |   | —                                  |   | —                                      |   | — |   |   | — |   | — |   | — |   | — |   | — |
| Brian J. Woram        |   | —                                        |   | —                                         |   | —                                    |   | —                                  |   | 10,563                                       |   | (30,542 | ) |   | 168,877 |   | — |   | 176,185 |   | 44,558 |   | 220,743 |

| (1) | Relates to deferred cash compensation awards subject to vesting requirements awarded in prior fiscal years under our Annual Plan or 2003 Equity Plan and deferred under our Executive Deferred Compensation Plan.  A description of our executive deferred compensation plan is described under “Executive Deferred Compensation Plan” on page 39. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Represents our contributions accrued to the accounts of the named executive officers in fiscal 2009 pursuant to our SERP. |
|-----|---------------------------------------------------------------------------------------------------------------------------|

| (3) | Represents interest earned in fiscal 2009 on deferred cash compensation awards, and thus includes interest earned on awards granted prior to fiscal 2009.  These amounts are also reported as compensation in the Non-Equity Incentive Plan Compensation column in the Summary Compensation Table on page 29. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Represents earnings (losses) on the named executive officer’s account balances under our SERP.  An executive may designate how his or her account balances are to be invested by selecting among the investment options available under our Saving for Retirement Plan.  The table below shows the investment options currently available under the SERP (which, with the exceptionof the Centex Corporation Common Stock Fund, mirror the investment choices under the Saving for Retirement Plan). |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Fund Class                        |   | Measurement Fund                                                      |
|-----------------------------------|--------|-----------------------------------------------------------------------|
| Asset Allocation Commingled Pools |   | Pyramis Index Lifecycle Commingled Pools (2000-2050)                  |
| Foreign Large Blend               |   | Vanguard Total International Stock Index Fund – Investor Shares |
| Intermediate Term Bond            |   | Fidelity U.S. Bond Index Fund                                         |
| Large Blend                       |   | Vanguard Large-Cap Index Fund – Institutional Shares            |
| Large Blend                       |   | Vanguard Total Stock Market Index Fund                                |
| Mid-Cap Blend                     |   | Fidelity Low-Priced Stock Fund                                        |
| Mid-Cap Blend                     |   | Vanguard Mid-Cap Index Fund – Institutional Shares              |
| Small Blend                       |   | Vanguard Small-Cap Index Fund – Institutional Shares            |
| Stable Value Commingled Pool      |   | Fidelity Managed Income Portfolio                                     |

| (5) | Represents payouts during fiscal 2009 to the named executive officer of vested amounts of deferred cash compensation. |
|-----|-----------------------------------------------------------------------------------------------------------------------|

| (6) | Aggregate balance of the named executive officer’s deferred cash compensation account, including earnings. |
|-----|------------------------------------------------------------------------------------------------------------------|

| (7) | Aggregate balance of the named executive officer’s SERP account, including earnings. |
|-----|--------------------------------------------------------------------------------------------|

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Executive Deferred Compensation Plan

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Termination and Change in Control Tables 

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Table of Contents

|                                          |   | Termination of Employment ($) |   | No Termination of Employment ($)                                 |
|-----------------------------------------------|--------|-------------------------------|--------|------------------------------------------------------------------|
| Payments and Benefits                         |   | Voluntary                     |   | Involuntary Termination or Voluntary Termination for Good Reason |   | For Cause |   | Death |   | Disability |   | Change in Control |   | Change in Control |
| Short-term incentive compensation (bonus) (1) |   | 1,634,000                     |   | 1,634,000                                                        |   | — |   | 1,634,000 |   | 1,634,000 |   | 2,750,800 |   | 2,750,800 |
| Vesting of long-term awards:                  |   |                          |   |                                                             |   |   |   |   |   |   |   |   |   |   |
| Stock options (2)                             |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Restricted stock                              |   | —                       |   | —                                                          |   | — |   | 2,563,223 |   | 2,563,223 |   | 2,563,223 |   | 2,563,223 |
| Stock units                                   |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Performance units (3)                         |   | 283,847                       |   | 283,847                                                          |   | — |   | 1,999,972 |   | 1,999,972 |   | 999,652 |   | 999,652 |
| Deferred cash                                 |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Vesting of SERP contributions                 |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Cash severance payments (4)                   |   | —                       |   | 7,341,600                                                        |   | — |   | — |   | — |   | 4,590,800 |   | — |
| Salary continuation plan payments             |   | —                       |   | —                                                          |   | — |   | 2,608,200 |   | — |   | — |   | — |
| Outplacement benefits                         |   | —                       |   | 30,000                                                           |   | — |   | — |   | — |   | 30,000 |   | — |
| Tax gross-up payments                         |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Total                                         |   | 1,917,847                     |   | 9,289,447                                                        |   | — |   | 8,805,395 |   | 6,197,195 |   | 10,934,475 |   | 6,313,675 |

|                                          |   | Termination of Employment ($) |   | No Termination of Employment ($)                                 |
|-----------------------------------------------|--------|-------------------------------|--------|------------------------------------------------------------------|
| Payments and Benefits                         |   | Voluntary                     |   | Involuntary Termination or Voluntary Termination for Good Reason |   | For Cause |   | Death |   | Disability |   | Change in Control |   | Change in Control |
| Short-term incentive compensation (bonus) (1) |   | (89,019)                      |   | 410,981                                                          |   | (500,000) |   | 410,981 |   | 410,981 |   | 572,000 |   | 572,000 |
| Vesting of long-term awards:                  |   |                          |   |                                                             |   |   |   |   |   |   |   |   |   |   |
| Stock options (2)                             |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Restricted stock                              |   | —                       |   | 286,860                                                          |   | — |   | 840,015 |   | 840,015 |   | 840,015 |   | 840,015 |
| Stock units                                   |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Performance units (3)                         |   | —                       |   | 56,703                                                           |   | — |   | 883,342 |   | 883,342 |   | 407,462 |   | 407,462 |
| Deferred cash                                 |   | —                       |   | 686,400                                                          |   | — |   | 1,144,000 |   | 1,144,000 |   | 1,144,000 |   | 1,144,000 |
| Vesting of SERP contributions                 |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Cash severance payments (4)                   |   | —                       |   | 1,716,000                                                        |   | — |   | — |   | — |   | 1,144,000 |   | — |
| Salary continuation plan payments             |   | —                       |   | —                                                          |   | — |   | 5,840,120 |   | — |   | — |   | — |
| Outplacement benefits                         |   | —                       |   | 25,000                                                           |   | — |   | — |   | — |   | 25,000 |   | — |
| Tax gross-up payments                         |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Total                                         |   | (89,019)                      |   | 3,181,944                                                        |   | (500,000) |   | 9,118,458 |   | 3,278,338 |   | 4,132,477 |   | 2,963,477 |

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|                                          |   | Termination of Employment ($) |   | No Termination of Employment ($)                                 |
|-----------------------------------------------|--------|-------------------------------|--------|------------------------------------------------------------------|
| Payments and Benefits                         |   | Voluntary                     |   | Involuntary Termination or Voluntary Termination for Good Reason |   | For Cause |   | Death |   | Disability |   | Change in Control |   | Change in Control |
| Short-term incentive compensation (bonus) (1) |   | 225,344                       |   | 225,344                                                          |   | — |   | 225,344 |   | 225,344 |   | 328,000 |   | 328,000 |
| Vesting of long-term awards:                  |   |                          |   |                                                             |   |   |   |   |   |   |   |   |   |   |
| Stock options (2)                             |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Restricted stock                              |   | —                       |   | 177,218                                                          |   | — |   | 472,628 |   | 472,628 |   | 472,628 |   | 472,628 |
| Stock units                                   |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Performance units (3)                         |   | —                       |   | 32,828                                                           |   | — |   | 466,642 |   | 466,642 |   | 190,687 |   | 190,687 |
| Deferred cash                                 |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Vesting of SERP contributions                 |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Cash severance payments (4)                   |   | —                       |   | 1,107,000                                                        |   | — |   | — |   | — |   | 779,000 |   | — |
| Salary continuation plan payments             |   | —                       |   | —                                                          |   | — |   | 3,091,400 |   | — |   | — |   | — |
| Outplacement benefits                         |   | —                       |   | 25,000                                                           |   | — |   | — |   | — |   | 25,000 |   | — |
| Tax gross-up payments                         |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Total                                         |   | 225,344                       |   | 1,567,390                                                        |   | — |   | 4,256,014 |   | 1,164,614 |   | 1,795,315 |   | 991,315 |

|                                          |   | Termination of Employment ($) |   | No Termination of Employment ($)                                 |
|-----------------------------------------------|--------|-------------------------------|--------|------------------------------------------------------------------|
| Payments and Benefits                         |   | Voluntary                     |   | Involuntary Termination or Voluntary Termination for Good Reason |   | For Cause |   | Death |   | Disability |   | Change in Control |   | Change in Control |
| Short-term incentive compensation (bonus) (1) |   | 323,324                       |   | 323,324                                                          |   | — |   | 323,324 |   | 323,324 |   | 450,000 |   | 450,000 |
| Vesting of long-term awards:                  |   |                          |   |                                                             |   |   |   |   |   |   |   |   |   |   |
| Stock options (2)                             |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Restricted stock                              |   | —                       |   | 123,113                                                          |   | — |   | 348,765 |   | 348,765 |   | 348,765 |   | 348,765 |
| Stock units                                   |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Performance units (3)                         |   | —                       |   | 47,748                                                           |   | — |   | 633,297 |   | 633,297 |   | 231,429 |   | 231,429 |
| Deferred cash                                 |   | —                       |   | 540,000                                                          |   | — |   | 900,000 |   | 900,000 |   | 900,000 |   | 900,000 |
| Vesting of SERP contributions                 |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Cash severance payments (4)                   |   | —                       |   | 1,350,000                                                        |   | — |   | — |   | — |   | 900,000 |   | — |
| Salary continuation plan payments             |   | —                       |   | —                                                          |   | — |   | 3,899,250 |   | — |   | — |   | — |
| Outplacement benefits                         |   | —                       |   | 25,000                                                           |   | — |   | — |   | — |   | 25,000 |   | — |
| Tax gross-up payments                         |   | —                       |   | —                                                          |   | — |   | — |   | — |   | — |   | — |
| Total                                         |   | 323,324                       |   | 2,409,185                                                        |   | — |   | 6,104,636 |   | 2,205,386 |   | 2,855,194 |   | 1,930,194 |

| (1) | For short-term incentive compensation payments upon a termination of employment that does not involve a change in control, the payments shown are the dollar value of the incentive compensation each was awarded for fiscal 2009 under the applicable performance goals and taking into account the exercise of any negative discretion by the committee.  See the  |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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31

| (2) | The unvested stock options for each of the named executive officers have no intrinsic value because the share exercise price of the options is higher than the closing sale price of Centex common stock on the NYSE on March 31, 2009 ($7.50). |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | For purposes of the termination tables, we estimated our performance on the LTPUs as a percentage of target on the performance metrics through March 31, 2009 to be 37.5% for the May 2007 LTPU award and 25% for the May 2008 LTPU award.  For additional information about the LTPU awards, see “Outstanding Stock Awards at Fiscal 2009 Year-End” on page 36. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | If our named executive officers were terminated "without cause" under the CIC Severance Plan (as described on page 46) on August 18, 2009 after a change of control, then, giving effect to the provisions of the CIC Severance Plan as opposed to our Executive Severance Policy, the cash severance payments listed in the “Termination of Employment –Changein Control” column in the tables above would be higher by the following amounts: |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Timothy R. Eller    |  $1,055,101                       |
|------------------------------------|----------------------------------------|
| Catherine R. Smith                 |     $219,397            |
| Joseph A. Bosch                    |     $125,808       |
| Brian J. Woram                     |      $172,603 |

Certain Termination Payments

| Payments and Benefits           |   | Involuntary Not for Cause Termination ($) (1) |
|---------------------------------|--------|----------------------------------------------------|
| Vesting of long-term awards:    |   |                                               |
| Stock options (2)               |   | —                                            |
| Stock units (3)                 |   | 20,588                                             |
| Long-term performance units (4) |   | 119,370                                            |
| Cash severance payment          |   | 2,137,500                                          |
| Accrued vacation pay            |   | 32,885                                             |
| Outplacement services (5)       |   | 25,000                                             |
| Total                           |   | 2,335,343                                          |

| (1) | Represents payments and benefits to Mr. Barclay pursuant to his separation agreement, as described under “Termination and Change in Control Arrangements” on page 23. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Based on the intrinsic value of the unvested stock options as of the date of termination (March 31, 2009), using the closing sale price of Centex common stock on the NYSE on such date.  For all of the options held by Mr. Barclay, the intrinsic value was zero, because the exercise price of each option was higher than such closing price. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Based on the closing sale price of Centex common stock on the NYSE on the date of termination (March 31, 2009). |
|-----|-----------------------------------------------------------------------------------------------------------------|

| (4) | Based on the closing sale price of Centex common stock on the NYSE on the date of termination (March 31, 2009), modified for Centex’s ranking to peer group in certain financial performance measures.  See note (3) on page 37. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Represents the maximum value of outplacement services for Mr. Barclay.  There was no cash paid with respect to this benefit. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------|

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For stock options granted prior to April 1, 2006, if the executive is at least 55 years old, has at least 10 years of service and the sum of the age and years of service equals at least 70, then all such stock options held by the executive will have 12 months following the date of termination (or suchlonger period as may be provided in the option agreement) to exercise the options.  We refer to this event as “vested retirement.”  Of the executives for whom information is presented in the tables, Mr. Eller and Mr. Barclay are the only executives who qualified for vested retirement under these rules as of March 31, 2009. 

Executive Severance Policy.  We maintain an Executive Severance Policy for selected executives, including the named executive officers.  The policy provides that,if a designated executive’s employment is terminated for reasons other than for cause, death, disability, retirement, or resignation (unless it is a resignation for good reason), the executive is eligible to receive, subject to approval by the chief executive officer, the senior vice president – human resources, and (for the named executive officers and selected other senior executives) the committee: 

|   | ● | a lump-sum severance payment equal to the sum of the executive’s annual base salary and a specified additional amount multiplied by a factor that is determined by the executive’s position; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | acceleration of the vesting of a portion of the executive’s unvested equity (i.e., stock options, restricted stock, stock units, and any performance share or similar security) and deferred cash compensation awards; and |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | limited outplacement benefits. |
|--------|---------|--------------------------------|

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Change in Control (with or without Termination of Employment)

34

  

44
 except that (a) no long-term awards areaccelerated upon the termination of employment under the CIC Severance Plan since the vesting of those awards would already have been accelerated under the provisions of the applicable equity plans (other than the May 2009 restricted stock awards that, by their terms, provide for partial accelerated vesting upon a qualified separation after a change in control), and (b) if a participant receives a payout of target bonus under the Annual Plan and is subsequently terminated during the same fiscal year in whichthe change in control occurs, the cash severance payable under the CIC Severance Plan will be reduced by an amount equal to the portion of the bonus payment attributable to the portion of the year with respect to which the participant did not perform services.  Depending upon the date of the termination of employment, this could result in a smaller offset from the aggregate cash severance payment than under the Executive Severance Policy.  We have added a footnote to each of thetermination tables that describes briefly the impact of a termination of employment following a change of control assuming that the CIC Severance Plan were to apply. 

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Director Compensation

| Name                    |   | Fees Earned orPaid in Cash ($) |       | Stock Awards ($) (1)(2)(3) |     | Option Awards ($) (3)(4)(5) |   | Non-Equity Incentive Plan Compensation ($) |   | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) |   | All Other Compensation ($) (6)(7) |   | Total ($) |
|-------------------------|--------|--------------------------------|------------|----------------------------|----------|----------------------------------|--------|--------------------------------------------|--------|-----------------------------------------------------------------------------|--------|----------------------------------------|--------|-----------|
| Barbara T. Alexander    |   | 96,667                         |  (8)  |                       | 98,621   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 428       |   | 220,716 |   |
| Juan L. Elek (9)        |   | 33,333                         |       |                       | (121,357 | ) (10)                           |   | 25,000                                     |   | —                                                                     |   | —                                |   | 320       |   | (62,704 | ) (10) |
| Ursula O. Fairbairn     |   | 96,667                         |  (11) |                       | 98,621   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 428       |   | 220,716 |   |
| Thomas J. Falk          |   | 111,667                        |  (12) |                       | 98,621   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 428       |   | 235,716 |   |
| Clint W. Murchison, III |   | 76,667                         |       |                       | 98,621   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 428       |   | 200,716 |   |
| Frederic M. Poses       |   | 76,667                         |       |                       | 98,621   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 588       |   | 200,876 |   |
| James J. Postl          |   | 101,667                        |  (13) |                       | 98,621   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 428       |   | 225,716 |   |
| David W. Quinn          |   | 83,333                         |  (14) |                       | 98,621   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 428       |   | 207,382 |   |
| Matthew K. Rose         |   | 76,667                         |       |                       | 88,897   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 375       |   | 190,939 |   |
| Thomas M. Schoewe       |   | 76,667                         |       |                       | 98,621   |                             |   | 25,000                                     |   | —                                                                     |   | —                                |   | 428       |   | 200,716 |   |

| (1) | Represents the dollar amount recognized for financial statement reporting purposes for fiscal 2009 in accordance with FAS 123R of restricted stock awards, and thus includes amounts for awards granted in fiscal 2009 and prior years (to the extent not fully vested).  Assumptions used in the calculation of these amounts are included in footnote (K) to our audited financial statementsfor fiscal 2009 included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2009.  Mr. Rose’s stock award amount is less than the other directors because his first restricted stock award was only received in July 2006 when he was elected. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Each director received a grant of restricted stock in fiscal 2009.  The grant was made at the beginning of the board year in July 2008 but was delayed until August 1, 2008 in accordance with our policy regarding the grant of equity awards, which is described on page 25.  The grant date fair value of the award computedin accordance with FAS 123R was approximately $100,000. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The following table shows the aggregate number of shares of restricted stock and stock options held by each non-employee director (and a former director) at March 31, 2009.  We provide complete beneficial ownership information of Centex common stock for each of our directors in the Beneficial Ownership Table on page 50. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name                    |   | Restricted Stock |   | Stock Options |
|-------------------------|--------|------------------|--------|---------------|
| Barbara T. Alexander    |   | 11,525           |   | 68,418        |   |
| Juan L. Elek            |   | 4,690            |   | 45,742        |   |
| Ursula O. Fairbairn     |   | 11,525           |   | 29,039        |   |
| Thomas J. Falk          |   | 11,525           |   | 35,339        |   |
| Clint W. Murchison, III |   | 11,525           |   | 126,661       |  (a) |
| Frederic M. Poses       |   | 13,525           |   | 41,920        |   |
| James J. Postl          |   | 11,525           |   | 33,299        |   |
| David W. Quinn          |   | 11,525           |   | 115,900       |   |
| Matthew K. Rose         |   | 11,525           |   | 24,063        |   |
| Thomas M. Schoewe       |   | 11,525           |   | 41,242        |   |

|   | (a) | Includes stock options for 64,216 shares held by Mr. Murchison’s family limited partnership. |
|--------|-----|----------------------------------------------------------------------------------------------------|

| (4) | The annual stock option grants to the non-employee directors are made in July for service on the board during the immediately preceding 12-month period.  The amounts in this column represent the dollar amount recognized for financial statement reporting purposes for fiscal 2009 in accordance with FAS 123R of stock option awards.  This dollar amount represents the expensefor the period April 1, 2008 to June 30, 2008 of the stock options granted on August 1, 2008 as compensation for service on the board for the period July 2007 to July 2008.  The board eliminated its July 2009 stock option award. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Each director received a stock option grant in fiscal 2009.  The grant was made at the end of the prior board year in July 2008 but was delayed until August 1, 2008 and in accordance with our policy regarding the grant of equity awards, which is described on page 25.  The grant date fair value of the award computed inaccordance with FAS 123R was approximately $100,000. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Includes cash dividends received by the directors in fiscal 2009 on their Centex restricted stock. |
|-----|----------------------------------------------------------------------------------------------------|

| (7) | Perquisites and other personal benefits are not disclosed for the directors because Centex’s aggregate incremental cost of the perquisites and benefits for each of the directors is less than $10,000.  We used the same methodology for determining incremental cost as we did for the calculation of perquisites for the named executive officers in the Summary Compensation Tableon page 29. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | Includes fees for chairing the governance committee. |
|-----|------------------------------------------------------|

| (9) | Mr. Elek retired from the board at the 2008 annual meeting and, therefore, his compensation is only for a partial year. |
|-----|-------------------------------------------------------------------------------------------------------------------------|

| (10) | At the time of Mr. Elek’s retirement, he held unvested restricted stock awards.  In order to allow Mr. Elek to continue to vest in his awards after retirement, and thereby have the same effect as the new director stock unit award (scheduled to take effect in July 2009), which provides for continued restrictions (but not forfeiture) following exit or retirement, the compensationcommittee recommended, and the board approved, a modification of Mr. Elek’s outstanding restricted stock awards to provide for continued vesting during the remainder of the applicable three-year vesting period after his retirement.  The modification caused a reduction in the FAS 123R expense for the restricted stock awards since the market price of Centex common stock on the NYSE at the time of award was higher than the market price at retirement, resulting in a negative FAS 123R expensefor the awards. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (11) | Includes fees for chairing the compensation committee. |
|------|--------------------------------------------------------|

| (12) | Includes fees for serving as lead director. |
|------|---------------------------------------------|

| (13) | Includes fees for chairing the audit committee. |
|------|-------------------------------------------------|

| (14) | Includes fees for serving as the chair of an ad hoc board committee for a portion of the fiscal year. |
|------|-------------------------------------------------------------------------------------------------------|

Discussion of Director Compensation Table and Related Matters 

|   | ● | The compensation package consists of annual compensation having a value of $265,000.  No separate meeting fees will be payable for attending board and committee meetings. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | ● | The chairperson of the audit committee will receive additional compensation of $25,000, payable in cash in monthly installments.  The chairperson of each of the compensation and management development committee, the corporate governance and nominating committee and the 2009 special initiatives committee will receive additional compensation of $20,000, payable in cash in monthly installments. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | The lead director will receive additional compensation of $35,000, payable in cash in monthly installments. |
|--------|---------|-------------------------------------------------------------------------------------------------------------|

|   | ● | Directors will be entitled to other compensation pursuant to existing plans in which they are eligible to participate. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------|

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ITEM 12.   SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Security Ownership Information 

29

|                                                         |      |                                                            |      | Amount and Nature of Beneficial Ownership (#) (1)                                              |
|--------------------------------------------------------------|-----------|-----------------------------------------------------------------|-----------|-----------------------------------------------------------------------------------------------------|
| Name                                                         |      | Position                                                        |      | Common Stock Beneficially Owned, Excluding Options, Restricted Stock and Restricted Stock Units (2) |   | Stock Options Exercisable Within 60 Days of 7/10/2009 (3) |   | Restricted   Stock (4) |   | Restricted Stock Units Vested Within 60 Days of 7/10/2009 (5) |   | TotalCommon Stock Beneficially Owned (6) |   | Percent of Class |
| Barbara T. Alexander                                         |      | Director                                                        |      | 39,406                                                                                              |   | 63,918 |   | 11,525 |   | 0 |   | 114,849 |   | * |
| David L. Barclay                                             |      | (7)                                                             |      | 38,517                                                                                              |   | 336,105 |   | 0 |   | 5,328 |   | 379,950 |   | * |
| Joseph A. Bosch                                              |      | Senior Vice President – Human Resources                   |      | 11,290                                                                                              |   | 31,661 |   | 100,981 |   | 0 |   | 143,932 |   | * |
| Timothy R. Eller                                             |      | Chairman of the Board, Chief Executive Officer and Director (8) |      | 733,574                                                                                             |   | 1,374,323 |   | 341,763 |   | 0 |   | 2,449,660 |   | 1.9% |
| Ursula O. Fairbairn                                          |      | Director                                                        |      | 2,316                                                                                               |   | 29,039 |   | 11,525 |   | 0 |   | 42,880 |   | * |
| Thomas J. Falk                                               |      | Director                                                        |      | 8,316                                                                                               |   | 35,339 |   | 11,525 |   | 0 |   | 55,180 |   | * |
| Clint W. Murchison, III                                      |      | Director                                                        |      | 145,856                                                                                             |   | 64,333 |   | 11,525 |   | 0 |   | 221,714 |   | * |
| Frederic M. Poses                                            |      | Director                                                        |      | 4,316                                                                                               |   | 41,920 |   | 13,525 |   | 0 |   | 59,761 |   | * |
| James J. Postl                                               |      | Director                                                        |      | 2,816                                                                                               |   | 33,299 |   | 11,525 |   | 0 |   | 47,640 |   | * |
| David W. Quinn                                               |      | Director                                                        |      | 102,051                                                                                             |   | 115,900 |   | 11,525 |   | 0 |   | 229,476 |   | * |
| Matthew K. Rose                                              |      | Director                                                        |      | 0                                                                                                   |   | 24,063 |   | 11,525 |   | 0 |   | 35,588 |   | * |
| Thomas M. Schoewe                                            |      | Director                                                        |      | 14,443                                                                                              |   | 41,242 |   | 11,525 |   | 0 |   | 67,210 |   | * |
| Catherine R. Smith                                           |      | Executive Vice President and Chief Financial Officer            |      | 23,393                                                                                              |   | 62,616 |   | 183,963 |   | 0 |   | 269,972 |   | * |
| Brian J. Woram                                               |      | Senior Vice President and Chief Legal Officer                   |      | 48,539                                                                                              |   | 168,559 |   | 90,478 |   | 0 |   | 307,576 |   | * |
| All directors and executive officers as a group (17 persons) | 1,253,717 |                                                            | 2,871,516 |                                                                                                | 983,453 |   | 5,328 |   | 5,114,014 |   | 4.0% |

|   | * Less than 1% |
|--------|----------------|

| (1) | For purposes of this table, “beneficial ownership” is determined in accordance with Rule 13d-3 of the SEC under the Securities Exchange Act of 1934, pursuant to which a person is deemed to have “beneficial ownership” of shares of Centex common stock for which that person has or shares the power to vote or dispose of those shares, or has the right to acquire within60 days.  For purposes of computing the percentage of outstanding shares of Centex common stock held by each person or group of persons named in the table, any shares as to which that person or persons have the right to acquire within 60 days are deemed to be outstanding, but are not deemed to be outstanding for the purpose of computing the percentage ownership of any other person or persons. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (2) | The amounts shown in this column include the following shares of Centex common stock: (a) shares held for the accounts of these individuals in the Centex Corporation Common Stock Fund under the Saving for Retirement Plan as of July 10, 2009, as follows:  Mr. Barclay – 3,242 shares; Mr. Eller – 12,924 shares; and Mr. Woram – 675 shares; and all directorsand executive officers as a group – 16,841 shares; and (b) shares held by a family limited partnership in which these individuals have or share voting or investment power, as follows:  Mr. Eller – 164,800 shares; Mr. Falk – 8,316 shares; Mr. Murchison – 128,948 shares; and all directors and executive officers as a group – 302,064 shares. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | The amounts shown in this column consist of shares of Centex common stock that may be acquired by these individuals pursuant to the exercise of stock options granted to them under our 1987 Stock Option Plan, 1998 Employee Non-Qualified Stock Option Plan, 2001 Stock Plan or 2003 Equity Incentive Plan, and exercisable on July 10, 2009 or within 60 days thereafter.  For Mr. Murchison,the number of stock options beneficially owned includes options for 10,888 shares held by his family limited partnership. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | The amounts shown in this column consist of shares of restricted Centex common stock held by these individuals, which vest over time according to the schedule set forth in the restricted stock award.  The restricted stock is subject to forfeiture and may not be sold or transferred during the vesting period.  Holders of shares of restricted stock have the right to voteand receive dividends on the shares. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | The amounts shown in this column consist of shares of Centex common stock that these individuals have the right to receive upon payout of restricted stock units they held that were vested on July 10, 2009 or will vest within 60 days thereafter.  The restricted stock units were awarded to Mr. Barclay under our 2003 Equity Incentive Plan.  The restricted stock units vestover time according to the schedule set forth in the restricted stock unit award agreement.  Holders of stock units do not have the right to vote or receive dividends on the shares until vested units are converted into shares.  The distribution of Mr. Barclay’s units is delayed until after September 30, 2009 in accordance with Section 409A of the Internal Revenue Code. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | The amounts shown in this column consist of all common stock, options, restricted stock, and restricted stock units beneficially owned by these individuals. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | Mr. Barclay was the president - land division of Centex Real Estate Corporation, the managing general partner of Centex Homes, our homebuilding subsidiary until March 31, 2009, after which he ceased to be an executive officer and employee.  When referring to Mr. Barclay’s title, we use Centex Homes instead of Centex Real Estate Corporation.  A company controlledby Mr. Barclay is acting as a consultant to Centex Homes from April 1, 2009 until April 1, 2010, subject to earlier termination by either party with two week’s written notice. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | Mr. Eller also serves as our president and chief operating officer. |
|-----|---------------------------------------------------------------------|

Stock Ownership of Certain Beneficial Owners 

|                                                                                                      |   |  Common StockBeneficially Owned |
|-----------------------------------------------------------------------------------------------------------|--------|--------------------------------------|
| Name and Address of Beneficial Owner                                                                      |   | Numberof Shares                      |   | Percentof Class (1) |
| FMR LLC and Edward C. Johnson 3d (2)82 Devonshire StreetBoston, MA 02109                                  |   | 18,609,820                           |   | 14.85% |
| Barclays Global Investors, N.A. and certain of its affiliates (3)400 Howard StreetSan Francisco, CA 94105 |   | 9,765,423                            |   | 7.79% |
| State Street Bank and Trust Company (4)State Street Financial CenterOne Lincoln StreetBoston, MA 02111    |   | 6,378,155                            |   | 5.09% |

| (1) | Represents the number of shares beneficially owned as of December 31, 2008 for each person, entity or group divided by the number of shares of Centex common stock issued and outstanding on July 10, 2009. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Based solely on information provided in Amendment No. 1 to Schedule 13G filed jointly by FMR, LLC (“FMR”) and Edward C. Johnson 3d (“Mr. Johnson”) with the SEC on February 17, 2009, with respect to shared Centex common stock beneficially owned.  The Schedule 13G/A discloses that (i) Fidelity Management & Research Company (“Fidelity”), a whollyowned subsidiary of FMR and an investment advisor, beneficially owns 17,419,099 shares as a result of providing investment advisory services to various investment companies.  Mr. Johnson and FMR, through their control of Fidelity and the Fidelity funds, each has sole power to dispose of these shares.  The sole power to vote or direct the voting of these shares resides with the funds’ boards of Trustees; (ii) Strategic Advisers, Inc. (“Strategic”), a wholly owned subsidiaryof |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | FMR and an investment advisor, beneficially owns 5,408 shares; (iii) Pyramis Global Advisors, LLC (“Pyramis Advisors”), an indirect wholly owned subsidiary of FMR and an investment advisor, beneficially owns 8,200 shares.  Mr. Johnson and FMR, through their control of Pyramis Advisors, each have sole dispositive power with respect to these shares and sole power to voteor to direct the voting of these shares; (iv) Pyramis Global Advisors Trust Company (“Pyramis Trust”), an indirect wholly owned subsidiary of FMR and a bank, beneficially owns 874,313 shares.  Mr. Johnson and FMR, through their control of Pyramis Trust, each has sole dispositive power with respect to the shares and sole power to vote or to direct the voting of 779,013 of these shares; and (v) Fidelity International Limited (“FIL”), an investment advisor, is the beneficial ownerof 302,800 shares.  FIL has sole dispositive power with respect to these shares, FIL has sole power to vote or direct the voting of 287,200 of these shares and no power to vote or direct the voting of 15,600 of these shares.  Fidelity and Strategic have the same address as FMR.  The address of Pyramis Advisors and Pyramis Trust is 53 State St., Boston, MA 02109.  The address of FIL is Penbrook Hall, 42 Crow Ln., Hamilton, Bermuda. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Based solely on information contained in a Schedule 13G filed jointly by Barclays Global Investors, N.A. (“Barclays N.A.”), Barclays Global Fund Advisors (“Barclays Advisors”), Barclays Global Investors, Ltd. (“Barclays Investors”), Barclays Global Investors Japan Limited (“Barclays Japan”), Barclays Global Investors Canada Limited (“BarclaysCanada”), Barclays Global Investors Australia Limited (“Barclays Australia”), and Barclays Global Investors (Deutschland) AG (“Barclays AG”), with the SEC on February 5, 2009, with respect to shares of Centex common stock beneficially owned.  The Schedule 13G discloses that (i) Barclays N.A. has sole voting power over 5,103,886 shares, shared voting power over no shares, sole dispositive power over 6,478,733 shares, and shared dispositive power over no shares; (ii) BarclaysAdvisors has sole voting power over 2,327,026 shares, shared voting power over no shares, sole dispositive power over 2,334,859 shares, and shared dispositive power over no shares; (iii) Barclays Investors has sole voting power over 464,895 shares, shared voting power over no shares, sole dispositive power over 529,035 shares and shared dispositive power over no shares; (iv) Barclays Japan has sole voting powerover 295,689 shares, shared voting power over no shares, sole dispositive power over 295,689 shares and shared dispositive power over no shares; (v) Barclays Canada has sole voting power over 101,967 shares, shared voting power over no shares, sole dispositive power over 101,967 shares, and shared dispositive power over no shares; (vi) Barclays Australia has sole voting power over 25,140 shares, shared voting power over no shares, sole dispositive power over 25,140 shares, and shared dispositive power over noshares; and (v) and Barclays AG has no sole or shared voting power or sole or shared dispositive power with respect to shares of Centex common stock.  Barclays Advisors has the same address as Barclays N.A..  The address of Barclays Investors is Murray House, 1 Royal Mint Court, London, England EC3N 4HH.  The address of Barclays Japan is Ebisu Prime Square Tower, 8th Floor, 1-1-39 Hiroo Shibuya-Ku, Tokyo150-8402 Japan.  The address of Barclays Canada is Brookfield Place, 161 Bay St., Suite 2500, Toronto, Canada Ontario M5J 2S1.  The address of Barclays Australia is Level 43, Grosvenor Place, 225 George St.,  PO Box N43, Sydney, Australia NSW 1220.  The address of Barclays AG is Apianstrasse 6, D-85774, Unterfohring, Germany. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Based solely on information contained in a Schedule 13G filed by the reporting entity with the SEC on February 13, 2009 with respect to shares of Centex common stock beneficially owned.  The Schedule 13G disclosed that the reporting entity has sole voting power of 6,378,155 shares, shared voting power over no shares, sole dispositive power over no shares, and shared dispositivepower over 6,378,155 shares. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

ITEM 13.   CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Review and Approval of Related Person Transactions 

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|   | ● | Any employment relationship or transaction involving any of our executive officers and any related compensation or benefits solely resulting from that employment relationship or transaction. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | Any compensation or benefits payable to a Centex director solely for service as a director. |
|--------|---------|---------------------------------------------------------------------------------------------|

|   | ● | Any transaction in which the interest of the related person arises solely from the ownership of a class of Centex equity securities and all holders of that class of equity securities received the same benefit on a pro rata basis. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | The following items of indebtedness:  amounts due from the related person for purchases of goods and services subject to usual trade terms, for ordinary business travel and expense payments, and for other transactions in the ordinary course of business. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

54

Indemnification Arrangements 

Director Independence 

52

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Ordinary Course of Business Transactions 

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|   | Barbara T. Alexander |
|--------|----------------------|

|   | Ursula O. Fairbairn |
|--------|---------------------|

|   | Thomas J. Falk |
|--------|----------------|

|   | Clint W. Murchison, III |
|--------|-------------------------|

|   | Frederic M. Poses |
|--------|-------------------|

|   | James J. Postl |
|--------|----------------|

|   | David W. Quinn |
|--------|----------------|

|   | Matthew K. Rose |
|--------|-----------------|

|   | Thomas M. Schoewe |
|--------|-------------------|

ITEM 14.    PRINCIPAL ACCOUNTANT FEES AND SERVICES

Appointment of Ernst & Young 

Audit Fees and Pre-Approval Policy 

| Type of Fees       |   | Fiscal 2009($ in thousands) |   | Fiscal 2008($ in thousands) |
|--------------------|--------|-----------------------------|--------|-----------------------------|
|               |   |
| Audit Fees         |   | 2,572                       |   | 3,530                       |
| Audit-Related Fees |   | 62                          |   | 64                          |
| Tax Fees           |   | 5                           |   | 8                           |
| All Other Fees     |   | —                     |   | —                     |
| Total              |   | 2,639                       |   | 3,602                       |

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|   | ● | “Audit Fees” are fees for professional services rendered by Ernst & Young for the audit of our financial statements included in our Form 10-K report and the review of our financial statements included in our Form 10-Q reports or services that are normally provided by Ernst & Young in connection with statutory or regulatory filings or engagements. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | “Audit-Related Fees” are fees for assurance and related services by Ernst & Young that are reasonably related to the performance of the audit or review of the financial statements, including audits of employee benefit plans, accounting consultations, procedures performed related to securitizations and other debt transactions, and services provided in connection with the disposition of operations. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | “Tax Fees” means fees for professional services rendered by Ernst & Young for tax compliance, tax advice, and tax planning. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | “All Other Fees” includes all other fees for products and services provided by Ernst & Young. |
|--------|---------|---------------------------------------------------------------------------------------------------------------|

PART IV 

ITEM 15.    EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

| Exhibit Number |   | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Filed Herewith or Incorporated by Reference                                                              |
|----------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|
| 2.1            |   | Agreement and Plan of Merger dated as of April 7, 2009, by and among Pulte Homes, Inc., Centex Corporation (“Centex”) and Pi Nevada Building Company.  In accordance with the instructions to Item 601(b)(2) of Regulation S-K, the exhibits to the foregoing Agreement and Plan of Merger are not filed herewith.  TheAgreement identifies such exhibits, including the general nature of their content.  Centex undertakes to provide such exhibits to the Securities and Exchange Commission upon request.  |   | Exhibit 2.1 to Centex’s Current Report on Form 8-K dated April 10, 2009                       |
| 3.1            |   | Amended and Restated Articles of Incorporation of Centex                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 3.1 to Centex’s Current Report on Form 8-K dated July 15, 2008                   |
| 3.1a           |   | Certificate of Withdrawal of Certificate of Designation of Junior Participating Preferred Stock, Series D, filed with the Secretary of State of Nevada on February 24, 2009.                                                                                                                                                                                                                                                                                                                                                                                       |   | Exhibit 3.1a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 3.1b           |   | Certificate of Designation of Junior Participating Preferred Stock, Series D, filed with the Secretary of State of Nevada on February 25, 2009.                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Exhibit 3.1a to Centex’s Registration Statement on Form 8-A dated February 25, 2009           |
| 3.2            |   | Amended and Restated By-Laws of Centex dated October 8, 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Exhibit 3.1 to Centex’s Current Report on Form 8-K dated October 14, 2008                     |
| 4.1            |   | Specimen Centex common stock certificate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 4.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009   |

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| 4.2   |   | Rights Agreement, dated as of February 24, 2009, between Centex and Mellon Investor Services LLC, which includes the Form of Rights Certificate as Exhibit B                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Exhibit 4.1 to Centex’s Current Report on Form 8-K dated February 24, 2009                     |
|-------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------|
| 4.3   |   | Indenture, dated as of October 1, 1998, between Centex and U.S. Bank National Association (successor to Chase Bank of Texas, National Association)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Exhibit 4.1 to Centex’s Current Report on Form 8-K dated October 21, 1998                      |
| 4.4   |   | Indenture, dated as of November 5, 2008, between Centex and U.S. Bank National Association                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Exhibit 4.6 to Centex’s Registration Statement (file no. 333-155165) on Form S-3               |
| 4.5   |   | Indenture, dated as of November 14, 2000, between Centex and The Bank of New York Mellon Trust Company, National Association (successor to The Chase Manhattan Bank)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Exhibit 4.21 to Centex’s Registration Statement (file no. 333-49966) on Form S-3               |
| 4.6   |   | Any instrument with respect to long-term debt, where the securities authorized thereunder do not exceed 10% of the total assets of Centex and its subsidiaries, has not been filed; these instruments relate to (a) long-term senior and subordinated debt of Centex issued pursuant to supplements to the indentures filed as exhibits 4.3,4.4 and 4.5, which supplements have also been filed with the SEC as exhibits to various Centex registration statements or to reports incorporated by reference in such registration statements, (b) long-term debt issued pursuant to indentures or other agreements in connection with certain asset securitizations involving certain subsidiaries of Centex in private transactions and (c) other long-term debt of Centex; Centex agrees to furnish a copy of such instruments to the Securities and Exchange Commissionupon request  |   |                                                                                                      |
| 10.1  |   | Centex Corporation Amended and Restated 1987 Stock Option Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated February 13, 2009               |
| 10.2  |   | Amended and Restated 1998 Centex Corporation Employee Non-Qualified Stock Option Plan (“1998 Stock Option Plan”)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Exhibit 10.3 to Centex’s Current Report on Form 8-K dated February 13, 2009               |
| 10.2a |   | Form of stock option agreement for 1998 Stock Option Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Exhibit 10.2a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2005  |
| 10.3  |   | Amended and Restated Centex Corporation 2001 Stock Plan (“2001 Stock Plan”)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated February 13, 2009               |
| 10.3a |   | Form of stock option agreement for 2001 Stock Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Exhibit 10.5 to Centex’s Current Report on Form 8-K dated May 13, 2008                         |
| 10.3b |   | Form of restricted stock agreement for 2001 Stock Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | Exhibit 10.3b to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2004  |
| 10.4  |   | Centex Corporation Long Term Incentive Plan (“LTIP”)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Exhibit 10.6 to Centex’s Current Report on Form 8-K dated February 19, 2008               |

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| 10.4a   |   | Form of award agreement for LTIP*                                                                                                                                      |   | Exhibit 10.4a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008          |
|---------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------|
| 10.5    |   | Centex Corporation 2003 Annual Incentive Compensation Plan (amended and restated effective January 1, 2008)*                                                      |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated February 19, 2008                            |
| 10.5a   |   | Centex Corporation 2003 Annual Incentive Compensation Plan (as amended through May 7, 2008, including amendments approved by stockholders on July 10, 2008)* |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated July 15, 2008                                |
| 10.5b   |   | Form of award agreement for incentive compensation (fiscal 2009)*                                                                                                      |   | Exhibit 10.8 to Centex’s Current Report on Form 8-K dated May 13, 2008                                 |
| 10.5c   |   | Form of award agreement for incentive compensation (fiscal 2010)*                                                                                                      |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated May 15, 2009                                 |
| 10.6    |   | Centex Corporation 2003 Equity Incentive Plan*                                                                                                                         |   | Exhibit 10.6 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008      |
| 10.6a   |   | Centex Corporation 2003 Equity Incentive Plan (as amended through May 7, 2008, including amendments approved by stockholders on July 10, 2008)*              |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated July 15, 2008                                |
| 10.6aa  |   | Centex Corporation 2003 Equity Incentive Plan (as amended through October 8, 2008)*                                                                               |   | Exhibit 10.2a to Centex’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008  |
| 10.6aaa |   | Centex Corporation 2003 Equity Incentive Plan (as amended through February 11, 2009) (“2003 Equity Incentive Plan”)*                                  |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated February 13, 2009                            |
| 10.6b   |   | Form of stock option agreement for 2003 Equity Incentive Plan*                                                                                                         |   | Exhibit 10.6 to Centex’s Current Report on Form 8-K dated May 13, 2008                                 |
| 10.6c   |   | Form of stock unit agreement for 2003 Equity Incentive Plan*                                                                                                           |   | Exhibit 10.6b to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008          |
| 10.6cc  |   | Form of stock unit agreement for 2003 Equity Incentive Plan (May 2009 award)*                                                                                          |   | Exhibit 10.5 to Centex’s Current Report on Form 8-K dated May 15, 2009                                 |
| 10.6d   |   | Form of restricted stock award agreement for 2003 Equity Incentive Plan*                                                                                               |   | Exhibit 10.5 to Centex’s Current Report on Form 8-K dated May 16, 2007                                 |
| 10.6e   |   | Form of restricted stock award agreement for 2003 Equity Incentive Plan (July 2008 management awards)*                                                                 |   | Exhibit 10.3 to Centex’s Current Report on Form 8-K dated July 15, 2008                                |

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| 10.6f  |   | Form of restricted stock award agreement for 2003 Equity Incentive Plan (May 2009 award)*                                           |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated May 15, 2009                            |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------|
| 10.6g  |   | Form of non-employee director stock option agreement for 2003 Equity Incentive Plan (August 2008 non-employee director awards)*     |   | Exhibit 10.2 to Centex’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008   |
| 10.6h  |   | Form of non-employee director restricted stock agreement for 2003 Equity Incentive Plan (August 2008 non-employee director awards)* |   | Exhibit 10.2c to Centex’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008  |
| 10.6i  |   | Form of long-term performance unit award for 2003 Equity Incentive Plan (May 2007 award)*                                           |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated May 23, 2007                            |
| 10.6ii |   | Amendments to form of long-term performance unit award for 2003 Equity Incentive Plan (May 2007 award)*                             |   | Exhibit 10.3 to Centex’s Current Report on Form 8-K dated October 14, 2008                        |
| 10.6j  |   | Form of long-term performance unit award for 2003 Equity Incentive Plan (May 2008 award)*                                           |   | Exhibit 10.7 to Centex’s Current Report on Form 8-K dated May 13, 2008                            |
| 10.7   |   | Supplemental Executive Retirement Plan of Centex Corporation*                                                                       |   | Exhibit 10.9 to Centex’s Current Report on Form 8-K dated February 19, 2008                       |
| 10.8   |   | Centex Corporation Deferred Compensation Plan*                                                                                      |   | Exhibit 10.7 to Centex’s Current Report on Form 8-K dated February 19, 2008                       |
| 10.9   |   | Centex Corporation Executive Deferred Compensation Plan (“Executive Deferred Compensation Plan”)*                       |   | Exhibit 10.8 to Centex’s Current Report on Form 8-K dated February 19, 2008                       |
| 10.9a  |   | Form of deferred compensation agreement for Executive Deferred Compensation Plan*                                                   |   | Exhibit 10.9a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008     |
| 10.9b  |   | Form of deferred compensation agreement for Executive Deferred Compensation Plan (2009 retention awards) *                          |   | Exhibit 10.9b to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009     |
| 10.10  |   | Summary of Outside Director Compensation Plan*                                                                                      |   | Exhibit 10.10 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009     |
| 10.11  |   | Centex Corporation Executive Severance Policy*                                                                                      |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated October 14, 2008                        |

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| 10.11a |   | Centex Corporation Plan Regarding Severance After a Change in Control dated April 7, 2009*                                                           |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated April 8, 2009                         |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------|
| 10.12  |   | Centex Corporation Salary Continuation Plan*                                                                                                              |   | Exhibit 10.10 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2004   |
| 10.13  |   | Centex Comprehensive Medical Plan*                                                                                                                        |   | Exhibit 10.11 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008   |
| 10.13a |   | Amendment No. 1 to Centex Comprehensive Medical Plan*                                                                                                     |   | Exhibit 10.13a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008  |
| 10.13b |   | Amendment No. 2 to Centex Comprehensive Medical Plan*                                                                                                     |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated October 14, 2008                 |
| 10.14  |   | Form of Director Indemnification Agreement*                                                                                                               |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated February 14, 2006                |
| 10.15  |   | Form of Officer Indemnification Agreement*                                                                                                                |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated May 13, 2008                     |
| 10.16  |   | Form of Change of Control Agreement*                                                                                                                      |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated February 14, 2006                |
| 10.16a |   | Form of Amendment Change in Control Agreement*                                                                                                            |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated October 14, 2008                      |
| 10.17  |   | Credit Agreement, dated July 1, 2005 among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein                          |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated July 1, 2005                          |
| 10.17a |   | First Amendment to Credit Agreement, dated May 25, 2006 among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein       |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated June 1, 2006                          |
| 10.17b |   | Second Amendment to Credit Agreement, dated July 20, 2007, among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein    |   | Exhibit 10.3 to Centex’s Current Report on Form 8-K dated July 23, 2007                         |
| 10.17c |   | Third Amendment to Credit Agreement, dated March 26, 2008, among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein    |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated April 1, 2008                         |
| 10.17d |   | Fourth Amendment to Credit Agreement, dated January 23, 2009, among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein |   | Exhibit 10.5 to Centex’s Current Report on Form 8-K dated January 26, 2009                      |

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| 10.18  |   | Securities Purchase Agreement, dated as of March 30, 2006, among Centex Home Equity Company, LLC, Centex Financial Services, LLC and FIF HE Holdings, LLC.  In accordance with the instructions to Item 601(b)(2) of Regulation S-K, the schedules to the foregoing Securities Purchase Agreement are not filed herewith.  TheSecurities Purchase Agreement identifies such schedules, including the general nature of their content.  Centex undertakes to provide such schedules to the Securities and Exchange Commission upon request.                                                          |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated April 4, 2006                             |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------|
| 10.18a |   | Amendment No. 1 to Securities Purchase Agreement, dated as of July 11, 2006, among Centex Home Equity Company, LLC, Centex Financial Services, LLC and FIF HE Holdings, LLC.  In accordance with the instructions to Item 601(b)(2) of Regulation S-K, the schedules to the foregoing Amendment No. 1 to Securities Purchase Agreementare not filed herewith.  The Amendment No. 1 to Securities Purchase Agreement identifies such schedules, including the general nature of their content.  Centex undertakes to provide such schedules to the Securities and Exchange Commission upon request.  |   | Exhibit 2.2 to Centex’s Current Report on Form 8-K dated July 14, 2006                              |
| 10.18b |   | Amendment No. 2 to Securities Purchase Agreement among Centex Financial Services, LLC, Nationstar Mortgage LLC and FIF HE Holdings, LLC, dated as of December 20, 2006.                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Exhibit 2.3 to Centex’s Current Report on Form 8-K dated December 22, 2006                     |
| 10.19  |   | Stock Purchase Agreement, dated as of January 31, 2007, among Centex Construction Group, Inc., Centex Corporation, Balfour Beatty, Inc. and Balfour Beatty plc.  In accordance with the instructions to Item 601(b)(2) of Regulation S-K, the schedules to the foregoing Stock Purchase Agreement are not filed herewith.  TheStock Purchase Agreement identifies such schedules, including the general nature of their content.  Centex undertakes to provide such schedules to the Securities and Exchange Commission upon request.                                                          |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated February 6, 2007                          |
| 10.20  |   | Contribution Agreement, dated as of March 29, 2008, between Centex Homes and Corona Real Estate Holding Company, LLC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Exhibit 10.28 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008  |
| 10.21  |   | Member Interests Purchase Agreement, dated as of March 31, 2008, between Centex Homes and Corona Land Company, LLC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Exhibit 10.29 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008  |
| 10.22  |   | Executive Separation Agreement between David L. Barclay and Centex Service Company, LLC effective as of March 31, 2009*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 99 to Centex’s Current Report on Form 8-K dated April 2, 2009                          |
| 10.23  |   | Consulting Agreement between Barclay Consulting Group, Ltd. and Centex Service Company, LLC dated as of April 1, 2009*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Exhibit 99 to Centex’s Current Report on Form 8-K dated April 2, 2009                          |
| 12.1   |   | Computation of Ratio of Earnings to Fixed Charges                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Exhibit 12.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009   |

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| 21    |   | List of Subsidiaries of Centex                                                                                                                                          |   | Exhibit 21 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009    |
|-------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|
| 23    |   | Consent of Independent Registered Public Accounting Firm                                                                                                                |   | Exhibit 23 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009    |
| 24.1  |   | Powers of Attorney                                                                                                                                                      |   | Exhibit 24.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 31.1  |   | Certification of the Chief Executive Officer of Centex pursuant to Rule 13a–14(a) promulgated under the Securities Exchange Act of 1934 dated May 21, 2009        |   | Exhibit 31.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 31.1a |   | Certification of the Chief Executive Officer of Centex pursuant to Rule 13a–14(a) promulgated under the Securities Exchange Act of 1934 dated July 28, 2009  |   | Filed herewith                                                                                           |
| 31.2  |   | Certification of the Chief Financial Officer of Centex pursuant to Rule 13a–14(a) promulgated under the Securities Exchange Act of 1934 dated May 21, 2009        |   | Exhibit 31.2 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 31.2a |   | Certification of the Chief Financial Officer of Centex pursuant to Rule 13a–14(a) promulgated under the Securities Exchange Act of 1934 dated July 28, 2009  |   | Filed herewith                                                                                           |
| 32.1  |   | Certification of the Chief Executive Officer of Centex pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002         |   | Exhibit 32.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 32.2  |   | Certification of the Chief Financial Officer of Centex pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002         |   | Exhibit 32.2 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |

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SIGNATURES 

|          | CENTEX CORPORATION |
|---------------|--------------------|
|          | Registrant         |
|          |               |   |   |
|          |               |   |   |
|          |               |   |   |
| July 28, 2009 | By:                | /s/ TIMOTHY R. ELLER |
|          |               | Name: | Timothy R. Eller |
|          |               | Title: | Chairman of the Board andChief Executive Officer |

|          | CENTEX CORPORATION                                                                                                                                                                         |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          | Registrant                                                                                                                                                                                 |
|          |                                                                                                                                                                                       |   |   |
|          |                                                                                                                                                                                       |   |   |
|          |                                                                                                                                                                                       |   |   |
| July 28, 2009 | By:                                                                                                                                                                                        | /s/ TIMOTHY R. ELLER |
|          |                                                                                                                                                                                       | Name: | Timothy R. Eller |
|          |                                                                                                                                                                                       | Title: | Chairman of the Board andChief Executive Officer(principal executive officer) |
|          |                                                                                                                                                                                       |   |   |
|          |                                                                                                                                                                                       |   |   |
|          |                                                                                                                                                                                       |   |   |
| July 28, 2009 | By:                                                                                                                                                                                        | /s/ CATHERINE R. SMITH |
|          |                                                                                                                                                                                       | Name: | Catherine R. Smith |
|          |                                                                                                                                                                                       | Title: | Executive Vice President andChief Financial Officer(principal financial officer) |
|          |                                                                                                                                                                                       |   |   |
|          |                                                                                                                                                                                       |   |   |
|          |                                                                                                                                                                                       |   |   |
| July 28, 2009 | By:                                                                                                                                                                                        | /s/ MARK D. KEMP |
|          |                                                                                                                                                                                       | Name: | Mark D. Kemp |
|          |                                                                                                                                                                                       | Title: | Senior Vice President – Controller(principal accounting officer) |
|          |                                                                                                                                                                                       |   |   |
|          |                                                                                                                                                                                       |   |   |
|          | Barbara T. Alexander, Timothy R. Eller,Ursula O. Fairbairn, Thomas J. Falk,Clint W. Murchison, III, Frederic M. Poses,James J. Postl, David W. Quinn,Matthew K. Rose and Thomas M. Schoewe |
|          |
|          |
|          |                                                                                                                                                                                       |   |   |
|          |                                                                                                                                                                                       |   |   |
| July 28, 2009 | By:                                                                                                                                                                                        | /s/ TIMOTHY R. ELLER |
|          |                                                                                                                                                                                       | Name: | Timothy R. Eller |
|          |                                                                                                                                                                                       |   | Individually and as Attorney-in-Fact * |

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| Exhibit Number |   | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Filed Herewith or Incorporated by Reference                                                              |
|----------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|
| 2.1            |   | Agreement and Plan of Merger dated as of April 7, 2009, by and among Pulte Homes, Inc., Centex Corporation (“Centex”) and Pi Nevada Building Company.  In accordance with the instructions to Item 601(b)(2) of Regulation S-K, the exhibits to the foregoing Agreement and Plan of Merger are not filed herewith.  TheAgreement identifies such exhibits, including the general nature of their content.  Centex undertakes to provide such exhibits to the Securities and Exchange Commission upon request.  |   | Exhibit 2.1 to Centex’s Current Report on Form 8-K dated April 10, 2009                       |
| 3.1            |   | Amended and Restated Articles of Incorporation of Centex                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 3.1 to Centex’s Current Report on Form 8-K dated July 15, 2008                   |
| 3.1a           |   | Certificate of Withdrawal of Certificate of Designation of Junior Participating Preferred Stock, Series D, filed with the Secretary of State of Nevada on February 24, 2009.                                                                                                                                                                                                                                                                                                                                                                                       |   | Exhibit 3.1a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 3.1b           |   | Certificate of Designation of Junior Participating Preferred Stock, Series D, filed with the Secretary of State of Nevada on February 25, 2009.                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Exhibit 3.1a to Centex’s Registration Statement on Form 8-A dated February 25, 2009           |
| 3.2            |   | Amended and Restated By-Laws of Centex dated October 8, 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Exhibit 3.1 to Centex’s Current Report on Form 8-K dated October 14, 2008                     |
| 4.1            |   | Specimen Centex common stock certificate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 4.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009   |
| 4.2            |   | Rights Agreement, dated as of February 24, 2009, between Centex and Mellon Investor Services LLC, which includes the Form of Rights Certificate as Exhibit B                                                                                                                                                                                                                                                                                                                                                                                                       |   | Exhibit 4.1 to Centex’s Current Report on Form 8-K dated February 24, 2009                    |
| 4.3            |   | Indenture, dated as of October 1, 1998, between Centex and U.S. Bank National Association (successor to Chase Bank of Texas, National Association)                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Exhibit 4.1 to Centex’s Current Report on Form 8-K dated October 21, 1998                     |
| 4.4            |   | Indenture, dated as of November 5, 2008, between Centex and U.S. Bank National Association                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Exhibit 4.6 to Centex’s Registration Statement (file no. 333-155165) on Form S-3              |
| 4.5            |   | Indenture, dated as of November 14, 2000, between Centex and The Bank of New York Mellon Trust Company, National Association (successor to The Chase Manhattan Bank)                                                                                                                                                                                                                                                                                                                                                                                               |   | Exhibit 4.21 to Centex’s Registration Statement (file no. 333-49966) on Form S-3              |

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| 4.6   |   | Any instrument with respect to long-term debt, where the securities authorized thereunder do not exceed 10% of the total assets of Centex and its subsidiaries, has not been filed; these instruments relate to (a) long-term senior and subordinated debt of Centex issued pursuant to supplements to the indentures filed as exhibits 4.3,4.4 and 4.5, which supplements have also been filed with the SEC as exhibits to various Centex registration statements or to reports incorporated by reference in such registration statements, (b) long-term debt issued pursuant to indentures or other agreements in connection with certain asset securitizations involving certain subsidiaries of Centex in private transactions and (c) other long-term debt of Centex; Centex agrees to furnish a copy of such instruments to the Securities and Exchange Commissionupon request  |   |                                                                                                      |
|-------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------|
| 10.1  |   | Centex Corporation Amended and Restated 1987 Stock Option Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated February 13, 2009               |
| 10.2  |   | Amended and Restated 1998 Centex Corporation Employee Non-Qualified Stock Option Plan (“1998 Stock Option Plan”)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Exhibit 10.3 to Centex’s Current Report on Form 8-K dated February 13, 2009               |
| 10.2a |   | Form of stock option agreement for 1998 Stock Option Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Exhibit 10.2a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2005  |
| 10.3  |   | Amended and Restated Centex Corporation 2001 Stock Plan (“2001 Stock Plan”)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated February 13, 2009               |
| 10.3a |   | Form of stock option agreement for 2001 Stock Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Exhibit 10.5 to Centex’s Current Report on Form 8-K dated May 13, 2008                         |
| 10.3b |   | Form of restricted stock agreement for 2001 Stock Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | Exhibit 10.3b to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2004  |
| 10.4  |   | Centex Corporation Long Term Incentive Plan (“LTIP”)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Exhibit 10.6 to Centex’s Current Report on Form 8-K dated February 19, 2008               |
| 10.4a |   | Form of award agreement for LTIP*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Exhibit 10.4a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008  |
| 10.5  |   | Centex Corporation 2003 Annual Incentive Compensation Plan (amended and restated effective January 1, 2008)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated February 19, 2008                    |
| 10.5a |   | Centex Corporation 2003 Annual Incentive Compensation Plan (as amended through May 7, 2008, including amendments approved by stockholders on July 10, 2008)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated July 15, 2008                        |

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| 10.5b   |   | Form of award agreement for incentive compensation (fiscal 2009)*                                                                                         |   | Exhibit 10.8 to Centex’s Current Report on Form 8-K dated May 13, 2008                                 |
|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------|
| 10.5c   |   | Form of award agreement for incentive compensation (fiscal 2010)*                                                                                         |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated May 15, 2009                                 |
| 10.6    |   | Centex Corporation 2003 Equity Incentive Plan*                                                                                                            |   | Exhibit 10.6 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008      |
| 10.6a   |   | Centex Corporation 2003 Equity Incentive Plan (as amended through May 7, 2008, including amendments approved by stockholders on July 10, 2008)* |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated July 15, 2008                                |
| 10.6aa  |   | Centex Corporation 2003 Equity Incentive Plan (as amended through October 8, 2008)*                                                                  |   | Exhibit 10.2a to Centex’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008  |
| 10.6aaa |   | Centex Corporation 2003 Equity Incentive Plan (as amended through February 11, 2009) (“2003 Equity Incentive Plan”)*                     |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated February 13, 2009                            |
| 10.6b   |   | Form of stock option agreement for 2003 Equity Incentive Plan*                                                                                            |   | Exhibit 10.6 to Centex’s Current Report on Form 8-K dated May 13, 2008                                 |
| 10.6c   |   | Form of stock unit agreement for 2003 Equity Incentive Plan*                                                                                              |   | Exhibit 10.6b to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008          |
| 10.6cc  |   | Form of stock unit agreement for 2003 Equity Incentive Plan (May 2009 award)*                                                                             |   | Exhibit 10.5 to Centex’s Current Report on Form 8-K dated May 15, 2009                                 |
| 10.6d   |   | Form of restricted stock award agreement for 2003 Equity Incentive Plan*                                                                                  |   | Exhibit 10.5 to Centex’s Current Report on Form 8-K dated May 16, 2007                                 |
| 10.6e   |   | Form of restricted stock award agreement for 2003 Equity Incentive Plan (July 2008 management awards)*                                                    |   | Exhibit 10.3 to Centex’s Current Report on Form 8-K dated July 15, 2008                                |
| 10.6f   |   | Form of restricted stock award agreement for 2003 Equity Incentive Plan (May 2009 award)*                                                                 |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated May 15, 2009                                 |
| 10.6g   |   | Form of non-employee director stock option agreement for 2003 Equity Incentive Plan (August 2008 non-employee director awards)*                           |   | Exhibit 10.2 to Centex’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008        |

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| 10.6h  |   | Form of non-employee director restricted stock agreement for 2003 Equity Incentive Plan (August 2008 non-employee director awards)* |   | Exhibit 10.2c to Centex’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2008  |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------|
| 10.6i  |   | Form of long-term performance unit award for 2003 Equity Incentive Plan (May 2007 award)*                                           |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated May 23, 2007                            |
| 10.6ii |   | Amendments to form of long-term performance unit award for 2003 Equity Incentive Plan (May 2007 award)*                             |   | Exhibit 10.3 to Centex’s Current Report on Form 8-K dated October 14, 2008                        |
| 10.6j  |   | Form of long-term performance unit award for 2003 Equity Incentive Plan (May 2008 award)*                                           |   | Exhibit 10.7 to Centex’s Current Report on Form 8-K dated May 13, 2008                            |
| 10.7   |   | Supplemental Executive Retirement Plan of Centex Corporation*                                                                       |   | Exhibit 10.9 to Centex’s Current Report on Form 8-K dated February 19, 2008                       |
| 10.8   |   | Centex Corporation Deferred Compensation Plan*                                                                                      |   | Exhibit 10.7 to Centex’s Current Report on Form 8-K dated February 19, 2008                       |
| 10.9   |   | Centex Corporation Executive Deferred Compensation Plan (“Executive Deferred Compensation Plan”)*                       |   | Exhibit 10.8 to Centex’s Current Report on Form 8-K dated February 19, 2008                       |
| 10.9a  |   | Form of deferred compensation agreement for Executive Deferred Compensation Plan*                                                   |   | Exhibit 10.9a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008     |
| 10.9b  |   | Form of deferred compensation agreement for Executive Deferred Compensation Plan (2009 retention awards) *                          |   | Exhibit 10.9b to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009     |
| 10.10  |   | Summary of Outside Director Compensation Plan*                                                                                      |   | Exhibit 10.10 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009     |
| 10.11  |   | Centex Corporation Executive Severance Policy*                                                                                      |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated October 14, 2008                        |
| 10.11a |   | Centex Corporation Plan Regarding Severance After a Change in Control dated April 7, 2009*                                     |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated April 8, 2009                           |
| 10.12  |   | Centex Corporation Salary Continuation Plan*                                                                                        |   | Exhibit 10.10 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2004     |

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| 10.13  |   | Centex Comprehensive Medical Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Exhibit 10.11 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008   |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------|
| 10.13a |   | Amendment No. 1 to Centex Comprehensive Medical Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Exhibit 10.13a to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008  |
| 10.13b |   | Amendment No. 2 to Centex Comprehensive Medical Plan*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated October 14, 2008                 |
| 10.14  |   | Form of Director Indemnification Agreement*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated February 14, 2006                |
| 10.15  |   | Form of Officer Indemnification Agreement*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated May 13, 2008                     |
| 10.16  |   | Form of Change of Control Agreement*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated February 14, 2006                |
| 10.16a |   | Form of Amendment Change in Control Agreement*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated October 14, 2008                      |
| 10.17  |   | Credit Agreement, dated July 1, 2005 among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated July 1, 2005                          |
| 10.17a |   | First Amendment to Credit Agreement, dated May 25, 2006 among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Exhibit 10.2 to Centex’s Current Report on Form 8-K dated June 1, 2006                          |
| 10.17b |   | Second Amendment to Credit Agreement, dated July 20, 2007, among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Exhibit 10.3 to Centex’s Current Report on Form 8-K dated July 23, 2007                         |
| 10.17c |   | Third Amendment to Credit Agreement, dated March 26, 2008, among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Exhibit 10.4 to Centex’s Current Report on Form 8-K dated April 1, 2008                         |
| 10.17d |   | Fourth Amendment to Credit Agreement, dated January 23, 2009, among Centex, Bank of America, N.A., as Administrative Agent, and the lenders named therein                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Exhibit 10.5 to Centex’s Current Report on Form 8-K dated January 26, 2009                      |
| 10.18  |   | Securities Purchase Agreement, dated as of March 30, 2006, among Centex Home Equity Company, LLC, Centex Financial Services, LLC and FIF HE Holdings, LLC.  In accordance with the instructions to Item 601(b)(2) of Regulation S-K, the schedules to the foregoing Securities Purchase Agreement are not filed herewith.  TheSecurities Purchase Agreement identifies such schedules, including the general nature of their content.  Centex undertakes to provide such schedules to the Securities and Exchange Commission upon request.  |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated April 4, 2006                              |

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| 10.18a |   | Amendment No. 1 to Securities Purchase Agreement, dated as of July 11, 2006, among Centex Home Equity Company, LLC, Centex Financial Services, LLC and FIF HE Holdings, LLC.  In accordance with the instructions to Item 601(b)(2) of Regulation S-K, the schedules to the foregoing Amendment No. 1 to Securities Purchase Agreementare not filed herewith.  The Amendment No. 1 to Securities Purchase Agreement identifies such schedules, including the general nature of their content.  Centex undertakes to provide such schedules to the Securities and Exchange Commission upon request.  |   | Exhibit 2.2 to Centex’s Current Report on Form 8-K dated July 14, 2006                              |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------|
| 10.18b |   | Amendment No. 2 to Securities Purchase Agreement among Centex Financial Services, LLC, Nationstar Mortgage LLC and FIF HE Holdings, LLC, dated as of December 20, 2006.                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Exhibit 2.3 to Centex’s Current Report on Form 8-K dated December 22, 2006                     |
| 10.19  |   | Stock Purchase Agreement, dated as of January 31, 2007, among Centex Construction Group, Inc., Centex Corporation, Balfour Beatty, Inc. and Balfour Beatty plc.  In accordance with the instructions to Item 601(b)(2) of Regulation S-K, the schedules to the foregoing Stock Purchase Agreement are not filed herewith.  TheStock Purchase Agreement identifies such schedules, including the general nature of their content.  Centex undertakes to provide such schedules to the Securities and Exchange Commission upon request.                                                          |   | Exhibit 10.1 to Centex’s Current Report on Form 8-K dated February 6, 2007                          |
| 10.20  |   | Contribution Agreement, dated as of March 29, 2008, between Centex Homes and Corona Real Estate Holding Company, LLC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Exhibit 10.28 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008  |
| 10.21  |   | Member Interests Purchase Agreement, dated as of March 31, 2008, between Centex Homes and Corona Land Company, LLC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Exhibit 10.29 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2008  |
| 10.22  |   | Executive Separation Agreement between David L. Barclay and Centex Service Company, LLC effective as of March 31, 2009*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Exhibit 99 to Centex’s Current Report on Form 8-K dated April 2, 2009                          |
| 10.23  |   | Consulting Agreement between Barclay Consulting Group, Ltd. and Centex Service Company, LLC dated as of April 1, 2009*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Exhibit 99 to Centex’s Current Report on Form 8-K dated April 2, 2009                          |
| 12.1   |   | Computation of Ratio of Earnings to Fixed Charges                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | Exhibit 12.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009   |
| 21     |   | List of Subsidiaries of Centex                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Exhibit 21 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009     |
| 23     |   | Consent of Independent Registered Public Accounting Firm                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Exhibit 23 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009     |

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Table of Contents

| 24.1  |   | Powers of Attorney                                                                                                                                                      |   | Exhibit 24.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
|-------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------|
| 31.1  |   | Certification of the Chief Executive Officer of Centex pursuant to Rule 13a–14(a) promulgated under the Securities Exchange Act of 1934 dated May 21, 2009        |   | Exhibit 31.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 31.1a |   | Certification of the Chief Executive Officer of Centex pursuant to Rule 13a–14(a) promulgated under the Securities Exchange Act of 1934 dated July 28, 2009  |   | Filed herewith                                                                                           |
| 31.2  |   | Certification of the Chief Financial Officer of Centex pursuant to Rule 13a–14(a) promulgated under the Securities Exchange Act of 1934 dated May 21, 2009        |   | Exhibit 31.2 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 31.2a |   | Certification of the Chief Financial Officer of Centex pursuant to Rule 13a–14(a) promulgated under the Securities Exchange Act of 1934 dated July 28, 2009  |   | Filed herewith                                                                                           |
| 32.1  |   | Certification of the Chief Executive Officer of Centex pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002         |   | Exhibit 32.1 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |
| 32.2  |   | Certification of the Chief Financial Officer of Centex pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002         |   | Exhibit 32.2 to Centex’s Annual Report on Form 10-K for the fiscal year ended March 31, 2009  |

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